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Residential land prices keep rising
By Cherry Cao |
July 16, 2013, Tuesday
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Online Edition
Online Edition
ABOUT 90 percent of Chinese cities monitored by the Ministry of Land registered accelerated growth in residential land prices in the second quarter of this year, the land surveying and planning institute under the ministry said today.
Prices of land plots designated for housing development rose at a faster pace in 94 of the 105 cities tracked by the ministry during the April-June period, according to data released by the institute.
Of the 94 cities that saw quarterly growth, 40 saw increases of more than 5 percent and nine recorded increases of more than 10 percent.
Around the country, the overall price of land plots, including those earmarked for commercial, residential and industrial purposes, climbed 1.62 percent quarter on quarter to an average 3,226 yuan (US$522) per square meter during the period, extending the rise in prices for a fifth straight quarter. That compares to 1.47 percent growth recorded in the first quarter, the institute said.
First- and second-tier cities, in particular, registered robust demand for land plots in the first half of this year, with Shanghai, Beijing, Hangzhou, Guangzhou and Chongqing making the top five lists in terms of sales value.
The institute also predicted that the country's land market will see its momentum keep going for another quarter amid increasing supply while the upcoming release of good-quality plots in certain cities will also push up land prices.
Prices of land plots designated for housing development rose at a faster pace in 94 of the 105 cities tracked by the ministry during the April-June period, according to data released by the institute.
Of the 94 cities that saw quarterly growth, 40 saw increases of more than 5 percent and nine recorded increases of more than 10 percent.
Around the country, the overall price of land plots, including those earmarked for commercial, residential and industrial purposes, climbed 1.62 percent quarter on quarter to an average 3,226 yuan (US$522) per square meter during the period, extending the rise in prices for a fifth straight quarter. That compares to 1.47 percent growth recorded in the first quarter, the institute said.
First- and second-tier cities, in particular, registered robust demand for land plots in the first half of this year, with Shanghai, Beijing, Hangzhou, Guangzhou and Chongqing making the top five lists in terms of sales value.
The institute also predicted that the country's land market will see its momentum keep going for another quarter amid increasing supply while the upcoming release of good-quality plots in certain cities will also push up land prices.
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