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Land prices continue to decline in the first half of 2009
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17:10, July 14, 2009

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China's overall land value continued to decline in the first half of 2009, slightly lower than that in the second half of 2008.

Statistics issued on July 13 showed that during the first half of this year, the average comprehensive, commercial, residential and industrial land values in 35 key monitored cities changed -0.28 percent, 1.30 percent, -0.22 percent and -1.11 percent respectively compared to the second half of 2008. The changes stood at -1.23 percent, -0.95 percent, -0.75 percent and -1.95 percent respectively year-on-year.

In the first half of 2009, the overall land value in 105 key monitored cities across China stood at 2,472 yuan per square meter. Comprehensive, commercial, residential and industrial land values decreased by 0.88 percent, 0.34 percent, 0.77 percent and 1.23 percent respectively year-on-year.

In the second quarter of 2009, China's overall land value recovered slightly compared to the first quarter, with the growth rate turning from negative to positive. The year-on-year growth rate remained negative, but the drop was 0.35 percentage points lower than that in the first quarter.

By People's Daily Online



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