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Land Rates In Chinese Cities Rise
Source: Xinhua |
July 20, 2010, Tuesday
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Print Edition
Print Edition
LAND prices in 105 Chinese cities rose 9.29 percent year on year to 2,756 yuan (US$406.5) per square meter in the second quarter of this year.
Land prices also edged up 1.52 percent compared with the previous quarter, the China Land Surveying and Planning Institute, which is under the Ministry of Land and Resources, said yesterday.
In the second quarter, however, growth in prices of land for residential use fell 1.24 percentage points from the first quarter, outpacing the 0.36-percentage-point dip in the price rise of land for commercial buildings and 0.53-percentage-point drop in land for industrial purposes, the institute said. It attributed the slowdown to the tightening policies the government put in place in April.
June data indicated the red-hot property market has started cooling as average housing prices in 70 major cities fell 0.1 percent in June from May.
Land prices also edged up 1.52 percent compared with the previous quarter, the China Land Surveying and Planning Institute, which is under the Ministry of Land and Resources, said yesterday.
In the second quarter, however, growth in prices of land for residential use fell 1.24 percentage points from the first quarter, outpacing the 0.36-percentage-point dip in the price rise of land for commercial buildings and 0.53-percentage-point drop in land for industrial purposes, the institute said. It attributed the slowdown to the tightening policies the government put in place in April.
June data indicated the red-hot property market has started cooling as average housing prices in 70 major cities fell 0.1 percent in June from May.
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