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City sees solid land sales for 2nd month
By Cherry Cao |
December 1, 2012, Saturday
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Print Edition
Print Edition
LAND sales exceeded 10 billion yuan (US$1.6 billion) in Shanghai in November for the second straight month as an abundant supply and a recovery in home sales continued to boost sentiment among real estate developers.
The city saw 940,000 square meters of land were sold for 10.6 billion yuan last month, compared with 590,000 square meters sold for 10.9 billion yuan in October, Century 21 China Real Estate said yesterday in a report.
"The strong (buying) momentum will probably extend for another month," said Huang Hetao, a research manager at the city's largest estate chain by outlets. "More prime sites were released locally over the past two months, and the 'fiesta' is set to last till the year-end."
Nineteen land plots, with a combined starting price of 16.5 billion yuan, are to be auctioned this month, according to the website of the Shanghai Bureau of Planning and Land Resources.
The city saw 940,000 square meters of land were sold for 10.6 billion yuan last month, compared with 590,000 square meters sold for 10.9 billion yuan in October, Century 21 China Real Estate said yesterday in a report.
"The strong (buying) momentum will probably extend for another month," said Huang Hetao, a research manager at the city's largest estate chain by outlets. "More prime sites were released locally over the past two months, and the 'fiesta' is set to last till the year-end."
Nineteen land plots, with a combined starting price of 16.5 billion yuan, are to be auctioned this month, according to the website of the Shanghai Bureau of Planning and Land Resources.
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