Off the wire
• Urgent: Russia identifies Akbarzhon Dzhalilov as St. Petersburg attacker  • Athletics experts fear E. African domination killing World XC C'ships  • Philippines hails progress on COC talks between China, ASEAN  • Abe's cabinet members back textbook use of prewar rescript despite public opposition  • 10 killed in fires during China's Tomb-Sweeping holiday  • Kyrgyzstan-born Russian likely to be St. Petersburg attacker: Kyrgyz FM  • EU seeks to fix mixed migration challenges in Somalia  • China enhances smog inspections  • Mobike, Wuhan cooperate to build bike lanes to ease congestion  • Roundup: Somalia, AU seek to open main supply routes for relief access  
You are here: 　 Home

Land sales surge in major Chinese cities in Q1

Xinhua, April 4, 2017 Adjust font size:

Sales of land for residential projects almost doubled in China's first-tier cities during January-March, according to the latest data released by China Index Academy, a property research organization.

Land sales in major cities, like Beijing, Shanghai and Guangzhou, totaled 5.08 million square meters in the first quarter, an increase of 98 percent from a year ago, the highest level over the past two years.

Surging land sale is part of the government's efforts to cool down the runaway housing prices in major cities where huge demand and limited supply pushed prices to record high.

Major Chinese cities are taking fresh measures including increased minimum deposits for second-home buyers, adding to the slew of steps taken since October in dozens of cities to prevent home prices from rising out of control. Endi