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Land price for homes drops in Q1
Source: Xinhua |
April 18, 2012, Wednesday
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Print Edition
Print Edition
CHINA saw a slight price fall for land for residential development in the first quarter of 2012 as it kept a tight grip on the market.
According to a report released by the China Land Surveying and Planning Academy yesterday, the average residential land price in Chinese cities fell 0.04 percent in the January-March period to 4,516 yuan (US$718) per square meter from the fourth quarter of last year.
Although the drop was slight, it marked the first general decline for residential land prices in the country since the second quarter of 2009.
But prices for land used for commercial and industrial development continued to rise in the first quarter, up 0.91 percent and 0.31 percent, respectively, the report said.
According to a report released by the China Land Surveying and Planning Academy yesterday, the average residential land price in Chinese cities fell 0.04 percent in the January-March period to 4,516 yuan (US$718) per square meter from the fourth quarter of last year.
Although the drop was slight, it marked the first general decline for residential land prices in the country since the second quarter of 2009.
But prices for land used for commercial and industrial development continued to rise in the first quarter, up 0.91 percent and 0.31 percent, respectively, the report said.
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