Home / Business / Industries

Land sales in 10 major cities soared in Jan

By Hu Yuanyuan | | Updated: 2013-02-04 16:31

Land sales in China's 10 major cities more than doubled in the first month of 2013, fueled by the property developers' improved cash flow and expectations of a rosy real estate market this year.

Ten key cities tracked by Shanghai E-house Real Estate Research Institute saw land sales fees of 56.2 billion yuan ($8.9 billion) in January, up 263 percent year-on-year, the institute's data showed on Sunday.

The land area sold in those cities last month was 26 million square meters, an increase of 77 percent year-on-year.

The 10 cities include Beijing, Shanghai, Guangzhou, Shenzhen and Tianjin.

"Last year's market recovery has helped most property developers improve their cash flow greatly, and the optimistic expectations for this year further strengthened their confidence and made them snap more land," said Wu Xiaojun, a researcher with Shanghai E-house Real Estate Research Institute.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349