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Land market not seen to turn around
By Wang Yanlin |
October 12, 2012, Friday
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Print Edition
Print Edition
LAND transactions in China are still not as active as before and the market is not likely to turn around fully, the Ministry of Land and Resources said yesterday.
The recent increase in land supply is only reasonable to meet market demand, the ministry said.
"Trading of land in China is still much less active than before, and the prices of land fluctuated sharply in the first three quarters of this year," the ministry said in a statement. "Land prices are lower than a year earlier if we consider the first three quarters as a whole, and there is not a foundation for China's land market to have a full turnaround."
The supply of land for construction rose 9.2 percent from a year earlier to 440,000 hectares in the first nine months, according to the ministry. The land used for real estate projects fell 12.5 percent to 104,000 hectares in the period.
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