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SHANGHAI’S land sales rose in November by both value and volume despite the tight supply, Fang.com said in a report released yesterday.
Nine land parcels totaling 417,000 square meters, excluding those designated for affordable housing and public uses, were sold this month, an increase of 83 percent from October. By value, they fetched 31.53 billion yuan (US$5.1 billion), a notable surge from October’s 4.05 billion yuan.
“The supply will soar in December with 38 land parcels totaling 1.67 million square meters being released to the local market, which will be a record for this year,” said Li Zongzhou, a Fang.com analyst. Starting prices of those land pieces have exceeded 22.8 billion yuan, the report said.
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