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Land prices appear to be falling in China


16:21, October 21, 2011

Edited and translated by Ma Xi, People's Daily Online

Recently, a land price report about the main cities in China was released by the China Land Survey and Planning Center revealing that the growth rate of the land price was lower compared with last year as well as last quarter despite the slight increase of the land price compare with last quarter.

The number of cities that saw lower land prices obviously increased. There were seven cities appear negative growth of the comprehensive land price. Beijing and 11 other cities saw decreases in the residential land price, and Wenzhou saw the biggest.

The monitoring data revealed that the overall land price in the third quarter slightly increased compared with the last quarter. The general land price of the main monitoring cities is 3,040 yuan per square meter. The land price per square meter is: commercial 5,615 yuan, residential 4,518 yuan and industrial, 649 yuan.

The growth rates for commercial, residential and industrial properties dropped 0.79 percent, 0.48 percent and 0.49 percent, respectively, compared with last quarter. Compared with last year, the percentage of decline was 0.22 percent, 0.25 percent and 0.84 percent, respectively.

The growth speed of the comprehensive land price as well as the residential land price fell in more than 50 percent of the monitored cities in China. Only five cities exceeded 5 percent of the growth rate compared with last quarter: Nanchong, by 8.19 percent, Guiyang, 7.49 percent, Huzhou, 6.49 percent, Haikou, 5.99 percent, and Yueyang, 5.92 percent. Twelve cities, including Beijing, saw decreseas, and Wenzhou had the largest decrease of 3.56 percent.


Leave your comment2 comments

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jane at 2011-10-23121.28.69.*
if the land price is decline,will the price of our house be decline? more and more people can afford the expensive house??
Observer at 2011-10-22203.177.74.*
America in China. So now the developers have lower prices but the people are still paying too much. Looks like another give away to the wealthy.

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