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Chinese land price uptrend slows in Q2

Tuesday, 19 July 2011 17:05:19 (GMT+2)   -  

Tags: China , Far East , construction , East Asia and Pacific | similar articles » SteelOrbis News

The Department of Land and Resources of China issued the latest land prices in main domestic cities. Accordingly, in the second quarter of 2011, land prices in the investigated cities of China were averaged at RMB 3,000/square meters ($463.7/ square meters), up 8.85 percent year on year and 1.87 percent as compared to the previous quarter.
 
During the period in question, prices of commercial, residential and industrial lands were respectively RMB 5,506/square meters ($851/square meters), RMB 4,443/ square meters ($686.7/square meters) and RMB 645/square meters ($99.7/square meters), rising by 2.77 percent, 2.17 percent and 1.13 percent quarter on quarter, 0.33, 0.56 and 0.30 percentage points less than the quarter-on-quarter growth rate of the first quarter.
 
The report stated, in the second quarter of the current year, the residential department sales prices in China have somewhat weakened under the influence of the slowdown of land price uptrend.
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