Revenues from local government land sales in Chinese cities increase as of May 30

Wednesday, 05 June 2019 10:24:18 (GMT+3)   |   Shanghai

Revenues from sales of public land by local government to real estate developers in the 50 most-active cities in China in terms of such land sales amounted to RMB 1.51 trillion ($0.22 trillion) in the current year up to May 30, up 8.5 percent year on year, as announced by Centaline Group, a Shanghai-based real estate research institute.

Analysts in real estate market said, the demand in land market has been slack in the January-February period of the year. However, with the increases seen in credit and loan market, the financing for real estate enterprises has been easier, which provided solid support to real estate market. Accordingly, since April, in part of cities, the sales of public land have revived.

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