19 July 2019

Land sales in first-tier cities near 140 bln yuan, paper says

Income from land auctions in first-tier cities, such as Beijing, Shanghai and Guangzhou, has reached nearly 140 billion yuan (US$22.7571 billion) as of February this year, or 27 percent of the land sales in 2013, the Economic Information Daily reported Monday. In Beijing alone, sales reached 62.33 billion yuan in the first two months, and the total amount for the first quarter could reach 100 billion yuan, according to data from Centaline Property Agency Ltd. Of the plots sold in Beijing so far this year, 69 percent were for residential use, up from 56.8 percent in 2013, the report said.

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