Land prices going higher in 2nd half

Continuing trend, with records set for prime sites, expected to squeeze developers

Surging land prices in major cities will probably squeeze real estate developers' profit margins in the second half of the year, said industry analysts on Wednesday.

Land sales in the first half of 2016 exceeded 1.32 trillion yuan ($199 billion), jumping 24.8 percent on a yearly basis, according to statistics from the Ministry of Land and Resources.