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First-tier cities' land prices surge 350%

By Zheng Yangpeng  (

08:16, June 04, 2013

Chinese first-tier cities' land-sale prices in the first five months soared to 4.5 times that of the same period of last year.

According to Centaline, a national property brokerage, land transfer fees owned by governments of China's four first-tier cities — Beijing, Shanghai, Guangzhou and Shenzhen — in the first five months of this year hit 141.18 billion yuan ($23.02 billion). The figure last year was just 31.44 billion yuan.

In the past week, "land kings", or developers buying land at record high prices, have emerged frequently in Beijing, Shanghai and Guangzhou.

For example, a developer bought a parcel of land in Tongzhou, a suburb district in Beijing, last Thursday with 1.04 billion yuan, or 13,601 yuan per square meter. Just a month ago, the land price is this area was no more than 6,000 yuan per square meter.

Fan Xiaochong, president of Sunshine 100, a property developer, said that developers, buoyed by a positive outlook, have been busy buying land, boosting land-sale prices. They are bullish about the property market in first-tier cities while bearish about lower-level cities. As a result, land prices in first-tier cities skyrocketed while remaining stable in smaller cities.

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Email|Print|Comments(Editor:WangXin、Chen Lidan)

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concern at 2013-06-04175.139.155.*
Without hukou holders or foreign investors can buy property only with celling price of 8-10 million or above.Supplying more resident properties below 8-10 million with distance more than 50-80 km from metropolitan cities. FOCUS DEVELOPING AREAS more than 50- 100 km from the central metropolitan city.Tightened available bank loan and higher deposits for second property in 1st tier metropolitan cities for rich category citizens and foreigners.If want to implement property tax, put it 5-10% for second properties within 50 km distance for metropolitan cities. Only 1-2% will not help a lot, since the amount need to pay is too small.Just my personal view. Provide Central Provident Fund as social security savings plan from employees that can use as partially to pay for the bank loan installments for 1 or 2 resident's property only.

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