Beijing rents ride Olympic wave

Li Xiao, a 29-year-old company executive, is apartment hunting. "My monthly rent will rise eight-fold by August, from the current 3,200 yuan to 25,600 yuan, far beyond my budget," Li complained, adding some of his colleagues living around the major stadiums that will host the Olympic Games are also facing similar problems.

Li, who used to live in a 90 sq m apartment along Beijing's north fourth ring road, had a perfect view of the Bird's Nest.

"My landlord informed me about the new rent in March. I had never imagined it would be that high," Li said.