With some 129 days to go for the Beijing Olympic Games, house renting has become a hot topic in town. Officials say about 3.5 million travelers from home and abroad will rush into the capital city during the 16-day event. Our correspondent Ouyang has the details.

Reporter:

The estimated influx of Olympic travelers has begun to show its impact on Beijing's house-renting market, especially for short-term rent. It is so much so that many house-owners are considering reserving their properties for that period, instead of being locked up by a long-time lease.

Mr. Li bought a 54 square meters apartment around the west 4th ring road. Since the finish of its decoration last November, he chose to only accept short-term renting requests.

"I bought this property for investment. I heard that the rent would be tenfold the present one during the Olympics when I was decorating it. So I was set on renting it by month and maximizing its returns during the event."

Mr. Li even went to consult a property agency focusing on Olympic housing-renting, and has got this answer:

"We have had an overall check-up of your house and gave it a rating. You house is expected to earn you 700 to 1,000 yuan per day during the Olympics. That way, the rent of that single month can reach 150,000 yuan."

"The profit seems very nice and almost equals the yearly rent during normal times."

Obviously, not only Mr. Li wants to make a fortune during those 16 days. Will this wishful thinking become reality for like-minded property owners?

Expert opinion is that the high rent is calculated by the day not by the month; if unable to find a month-long tenant, the landlord can't strike much gold, after all. The current monthly rent Mr. Li asks for his house is 2,000 to 2,200 yuan. He plans to reserve it from July to September. Unless he can make sure the house will be occupied for at least 6 Olympic days during those three months, the future rent will not be even with the current one.

One expert says,

"If you only land a 3-day lease despite a tenfold price, you won't exceed the usual level. Worse, if you let the house stand idle for one or more months before or after that period, you will actually lose money."

It is estimated that 3 million nationals and 550,000 foreign tourists will visit Beijing during the Games. It is a huge opportunity for the house-renting market. But the Olympics is ultimately a 16 days wonder. To keep this in mind and balance short-run and long-run needs is necessary for Olympic fortune-hunters.

That was Ouyang with the report.