Date
18 October 2017

Land sales double in top cities in first 50 days, paper says

Land sales in first-tier cities had brought in 138.2 billion yuan (US$22.7 billion) this year as of Sunday, up 117 percent from the same time last year, Securities Daily reported Monday, citing data from CRIC Group, a property information provider. Property companies have been snapping up land in Beijing, Shanghai, Guangzhou and Shenzhen, betting on continued strong property price rises in these cities, the paper said. An analyst was quoted as saying that the authorities might redouble efforts to tame the white-hot property market in these top centers.

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