In the January-February period this year, the total floor area of land supply for construction in China declined by 35.5 percent year on year, continuing the shrinking trend since 2023, as announced by China Real Estate Information Corporation (CRIC).
The declining trend in national land supply for construction indicates that third- and fourth-tier cities are adopting contraction strategies in land supply: for example, over 60 percent of the cities in question saw a 40 percent drop in land supply in the first two months this year. Meanwhile, the first-tier and core second-tier cities are consolidating market confidence by optimizing the structure of land supply: for instance, the land supply for construction in Beijing and Shanghai declined by 20 percent year on year in the January-February period this year.