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Residential land costs 30% less
By Cao Qian |
July 30, 2012, Monday
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Online Edition
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LAND parcels, designated for residential purposes excluding government-funded affordable housing, were sold for an average 5,180 yuan (US$818) per square meter in Shanghai during the first seven months, a year-over-year drop of 30 percent, an industry report said today.
By volume, only 12 plots of that kind were auctioned between January and July, down from 37 parcels sold during same period a year earlier, according to Century 21 China Real Estate.
By proximity to city center, 92 percent of such land plots (in terms of site area) were located beyond the city's Outer Ring Road, compared to 91 percent, 89 percent and 98 percent registered between 2009 and 2011, Century 21 data showed.
Tight cash flow has kept developers cautious in land reserve expansions, the report said.
By volume, only 12 plots of that kind were auctioned between January and July, down from 37 parcels sold during same period a year earlier, according to Century 21 China Real Estate.
By proximity to city center, 92 percent of such land plots (in terms of site area) were located beyond the city's Outer Ring Road, compared to 91 percent, 89 percent and 98 percent registered between 2009 and 2011, Century 21 data showed.
Tight cash flow has kept developers cautious in land reserve expansions, the report said.
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