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Land sales in Shanghai plummet
By Cao Qian |
March 3, 2012, Saturday
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Print Edition
Print Edition
LAND sales plunged in Shanghai in the first two months of this year amid sluggish sentiment as real estate developers remained cash-conscious in general after government austerity measures to curb housing speculation seriously dampened home sales.
Sales of land parcels, designated for all sorts of developments, excluding public use, totaled 5.754 billion yuan (US$913 million) between January and February, according to a research report released yesterday by Soufun.com. That, however, compared with a monthly land transaction of 9.858 billion yuan by value registered in 2011, Soufun said. In February alone, land sales dived 64.5 percent from the same period a year earlier to 3.126 billion yuan, with more than 82 percent gained from parcels slated for residential purposes.
Sales of land parcels, designated for all sorts of developments, excluding public use, totaled 5.754 billion yuan (US$913 million) between January and February, according to a research report released yesterday by Soufun.com. That, however, compared with a monthly land transaction of 9.858 billion yuan by value registered in 2011, Soufun said. In February alone, land sales dived 64.5 percent from the same period a year earlier to 3.126 billion yuan, with more than 82 percent gained from parcels slated for residential purposes.
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