Amid the recovery of Beijing's real estate market, commercial property sales in the capital increased by over 30 percent year on year to 13.1 million square meters in the first 10 months, according to statistics released by the Beijing Municipal Bureau of Statistics.

Home sales in Beijing soared by over 45 percent year on year to 10.1 million square meters during the same period.

The sales surge comes as the city's property market continues to recover since May, when potential buyers snapped up bargains in the cooling market out of fears that housing prices would rise.

The buying was further boosted by two interest rate cuts since June, which reduced mortgage costs and strengthened market expectations that further loosening policies would trigger a stronger real estate market rebound.