Home » Business » Real Estate
Land sales surge on bigger supply and rising urbanization
By Cao Qian |
January 8, 2011, Saturday
|
Print Edition
Print Edition
LAND sales soared 70 percent in China last year due to an increased supply while urbanization continued to propel ahead, the Ministry of Land and Resources said yesterday.
Across the country land parcels were sold for 2.7 trillion yuan (US$40.72 billion) in 2010, compared with 1.59 trillion yuan sold in 2009, Minister Xu Shaoshi told an annual work conference.
Land plots totaling 4.28 billion square meters were released nationwide last year, an increase of 18 percent from 2009. Of the total area, 1.8 billion square meters were designated for residential development, an annual surge of 80 percent, according to the ministry.
"For 2011, we will continue to guarantee land supply for development of affordable houses as well as of small- and medium-sized apartments," Xu said. "Inspections on land uses, meanwhile, will also be strengthened."
Under an earlier announced government plan, at least 70 percent of the land supply offered each year should be for construction of affordable homes as well as apartments no larger than 90 square meters.
Last year, about 77 percent of the total land supply were allocated for such homes, Xu said.
Land sales have been surging in China since 2004 when a new mechanism was introduced. Most of the land parcels offered since then were auctioned and that was the major reason behind skyrocketing prices, industry analysts said.
Between 1992 and 2003, land sales generated more than 1 trillion yuan whereas in 2007 alone they yielded 1.3 trillion yuan, according to earlier statistics released by the ministry.
A recent research completed by a national land price monitoring website has found that during the first three quarters of last year, over 90 percent of land supply for residential development and over 80 percent of supply for industrial uses were sold through auctions, 21st Century Business Herald reported yesterday.
Across the country land parcels were sold for 2.7 trillion yuan (US$40.72 billion) in 2010, compared with 1.59 trillion yuan sold in 2009, Minister Xu Shaoshi told an annual work conference.
Land plots totaling 4.28 billion square meters were released nationwide last year, an increase of 18 percent from 2009. Of the total area, 1.8 billion square meters were designated for residential development, an annual surge of 80 percent, according to the ministry.
"For 2011, we will continue to guarantee land supply for development of affordable houses as well as of small- and medium-sized apartments," Xu said. "Inspections on land uses, meanwhile, will also be strengthened."
Under an earlier announced government plan, at least 70 percent of the land supply offered each year should be for construction of affordable homes as well as apartments no larger than 90 square meters.
Last year, about 77 percent of the total land supply were allocated for such homes, Xu said.
Land sales have been surging in China since 2004 when a new mechanism was introduced. Most of the land parcels offered since then were auctioned and that was the major reason behind skyrocketing prices, industry analysts said.
Between 1992 and 2003, land sales generated more than 1 trillion yuan whereas in 2007 alone they yielded 1.3 trillion yuan, according to earlier statistics released by the ministry.
A recent research completed by a national land price monitoring website has found that during the first three quarters of last year, over 90 percent of land supply for residential development and over 80 percent of supply for industrial uses were sold through auctions, 21st Century Business Herald reported yesterday.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
