Beijing's commericial property market has seen a sharp growth in sales amid rumors that the local government will introduce more regulations to prevent a bubble in the market. [File photo]

Beijing's commercial property market has seen a sharp growth in sales amid rumors that the local government will introduce more regulations to prevent a bubble in the market, the Securities Daily reported.

Recently, a large number of commercial property projects have been launched in a short period of time, as developers are anxious to sell buildings before the introduction of the rumored regulations.

From June 1 to 19, 11,100 business properties were sold in Beijing, 37 percent higher than the total transactions during May.

A property project located in the Lize Financial Business District in downtown area was priced at 70,000 yuan (US$10,626) per square meter, and 90 percent of it was sold the first day it was offered.

Based on the current momentum, the monthly transactions of business properties in June will probably reach their highest levels since 2010, predicted Guo Yi, marketing director of the Yahao Real Estate Selling and Consulting Solution Agency.

Rumors that Beijing will restrict business property purchases have been circulating in the real estate market since June 6, when the Mengtougou district, a suburb in Beijing, suspended online registration.

A housing official denied the speculations on June 15, but it has nonetheless caused panic among both sellers and buyers.

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