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Ministry: Land prices in big cities stable in 2012
By Cherry Cao |
January 16, 2013, Wednesday
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Online Edition
Online Edition
LAND prices in major Chinese cities remained stable last year with a slight growth from 2011, the Ministry of Land and Resources said yesterday.
By the end of December, land earmarked for residential development gained 2.3 percent to 4,620 yuan (US$733) per square meter on the national average, according to the ministry which monitored 105 cities. Parcels slated for commercial and industrial uses, meanwhile, advanced 3.3 percent and 2.7 percent, respectively, to 5,843 yuan and 670 yuan per square meter.
"In general, the country's land market witnessed small fluctuations last year with land prices staying at rather low levels despite a faster pace of growth in the last quarter," Zhao Song from China Land Surveying and Planning Institute told a press conference held by the ministry.
"Residential land transactions decreased in volume but prices were stable."
By the end of 2012, prices for residential land fell in 27 of the 105 cities, compared with a year before, and more than 80 cities saw annual price growth of no more than 5 percent, according to Zhao's statistics.
Last year only 275 abnormal-land-price cases were reported to the ministry, down from 609 in 2011, the ministry said.
However, the ministry expects land prices to increase mildly this year with land supply remaining largely stable.
By the end of December, land earmarked for residential development gained 2.3 percent to 4,620 yuan (US$733) per square meter on the national average, according to the ministry which monitored 105 cities. Parcels slated for commercial and industrial uses, meanwhile, advanced 3.3 percent and 2.7 percent, respectively, to 5,843 yuan and 670 yuan per square meter.
"In general, the country's land market witnessed small fluctuations last year with land prices staying at rather low levels despite a faster pace of growth in the last quarter," Zhao Song from China Land Surveying and Planning Institute told a press conference held by the ministry.
"Residential land transactions decreased in volume but prices were stable."
By the end of 2012, prices for residential land fell in 27 of the 105 cities, compared with a year before, and more than 80 cities saw annual price growth of no more than 5 percent, according to Zhao's statistics.
Last year only 275 abnormal-land-price cases were reported to the ministry, down from 609 in 2011, the ministry said.
However, the ministry expects land prices to increase mildly this year with land supply remaining largely stable.
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