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Residential land price drops 30%
By Cao Qian |
July 31, 2012, Tuesday
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Print Edition
Print Edition
LAND designated for residential use, excluding government-funded affordable housing, sold for an average 5,180 yuan (US$818) per square meter in Shanghai so far this year, a drop of 30 percent on an annual basis, an industry report said yesterday.
By volume, only 12 residential plots were auctioned between January and July, down from 37 during the 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 with 91 percent registered in the same period of 2009, 89 percent in 2010 and 98 percent 2011, Century 21 data showed.
By volume, only 12 residential plots were auctioned between January and July, down from 37 during the 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 with 91 percent registered in the same period of 2009, 89 percent in 2010 and 98 percent 2011, Century 21 data showed.
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