Rush to buy real estate despite high prices

A majority of Beijing residents are concerned about unaffordable housing prices in the city, a new central bank survey said.

Of the 1,400 respondents who participated in the People's Bank of China consumer behavior study, more than 80 percent said housing prices are too high in Beijing.

However, 20 percent of those surveyed said they are considering buying an apartment within three months despite the rapidly escalating costs.