China's land prices see slower growth
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China.org.cn, July 18, 2011
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China's land prices see a slowered growth in the second quarter of this year. |
The growth of China's land prices in 105 cities slowed in the second quarter, despite of a 1.87 percet increase on average from the previous quarter, the China Urban Land Price Dynamic Monitor, a land price information agency, announced Sunday.
In the second quarter, land price for business properties averaged 5,506 yuan (about 847 U.S. dollars) per square meter, up 2.77 percent over the first quarter, while the growth rate slowed by 0.56 percentage points.
Land price for residential properties was 4,443 yuan per square meter on average, up 2.17 percent. The growth dropped 0.27 percentage points.
Meanwhile, the housing price for industrial uses rose 1.13 percent to 645 yuan per square meter. The growth fell 0.3 percentage points.
The country's three most prosperous regions, the Yangtze River Delta Region, Pearl River (Zhujiang) Delta Region, and the Bohai Rim, all saw slower land price growth in the second quarter.
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