Average residential land price in China up 13.8 percent in Jan-May

Tuesday, 30 June 2020 11:02:52 (GMT+3)   |   Shanghai
       

In the January-May period this year, the average price of residential land price in 100 major cities in China increased by 13.8 percent year on year to RMB 6,213/m2 ($877.5/m2), 1.5 percentage points faster than the year-on-year increase rate recorded in the first four months of the current year, as announced by CRIC, a real estate research institute of E-House, a Shanghai-based real estate transaction service provider.

In the first quarter, real estate developers in China had slowed down land purchases due to Covid-19, while they accelerated their activities in the land auction market in the second quarter this year, resulting in higher land prices in the January-May period.

$1 = RMB 7.0795


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