Home » Business » Real Estate
Shanghai's land sales weak in H1
By Cherry Cao |
July 3, 2012, Tuesday
|
Print Edition
Print Edition
SHANGHAI'S land market remained weak in the first half of this year despite a rise in purchases by developers last month, an industry report said yesterday.
Land parcels, designated for all types of developments except public use, were sold for 14.665 billion yuan (US$2.32 billion) between January and June, an annual plunge of 67 percent and down 80 percent from the second half of 2011, according to data released by Soufun.com, a real estate website.
About 2.11 million square meters of land were sold across the city during the six-month period, an annual fall of 56 percent and a plunge of 75 percent from the second half of 2011, the data showed.
But Shanghai saw land sales exceed 5.7 billion yuan in June, up from 573 million yuan in May, Soufun said.
"Tight cash flow damped developers' appetite while (land) supply was also small," said Zhang Wanyu, a Soufun analyst. "The significant rebound in June was certainly not enough to save the market from a weak first-half overall."
The city released 55 plots totaling 2.47 million square meters for sale during the first six months, down from 99 parcels, or 4.87 million square meters, launched in the same period a year ago.
Land parcels, designated for all types of developments except public use, were sold for 14.665 billion yuan (US$2.32 billion) between January and June, an annual plunge of 67 percent and down 80 percent from the second half of 2011, according to data released by Soufun.com, a real estate website.
About 2.11 million square meters of land were sold across the city during the six-month period, an annual fall of 56 percent and a plunge of 75 percent from the second half of 2011, the data showed.
But Shanghai saw land sales exceed 5.7 billion yuan in June, up from 573 million yuan in May, Soufun said.
"Tight cash flow damped developers' appetite while (land) supply was also small," said Zhang Wanyu, a Soufun analyst. "The significant rebound in June was certainly not enough to save the market from a weak first-half overall."
The city released 55 plots totaling 2.47 million square meters for sale during the first six months, down from 99 parcels, or 4.87 million square meters, launched in the same period a year ago.
- 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.
