Home » Business » Real Estate
Land for property development falls 15%
By Cherry Cao |
August 22, 2012, Wednesday
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Print Edition
Print Edition
The supply of land for real estate development fell 15 percent in China in the first half of this year while the average price for residential plots climbed 1.8 percent on an annual basis, the Ministry of Land and Resources said yesterday.
Between January and June, 597 million square meters of land were released for property development, accounting for 22 percent of the country's entire land supply during the period, the ministry, which regulates land supply, said in a statement posted on its website.
By price, land plots designated for homes sold at an average of 4,522 yuan (US$711) per square meter in the first six months, said the ministry, which tracks 105 major cities across the country.
Between January and June, 597 million square meters of land were released for property development, accounting for 22 percent of the country's entire land supply during the period, the ministry, which regulates land supply, said in a statement posted on its website.
By price, land plots designated for homes sold at an average of 4,522 yuan (US$711) per square meter in the first six months, said the ministry, which tracks 105 major cities across the country.
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