China's land prices keep rising in first quarter
Updated: 2016-04-19 08:10
(Xinhua)
|
|||||||||
High rise residential flats are under construction in the southern city of Shenzhen, September 11, 2015. [Photo/Agencies] |
Prices of land for residential use jumped 1.27 percent during January-March from the previous quarter, while prices of land for industrial development increased 0.73 percent, according to the Ministry of Land and Resources (MLR).
In general, land prices increased 0.96 percent, 0.22 percentage points higher than those recorded in the previous quarter.
Zhao Song, director of the land price division of the China Land Surveying and Planning Institute of the MLR, said top-tier cities led the increase, with residential land costs surging rapidly.
Second-tier cities followed suit, and third-tier cities have seen prices stabilizing, he noted.
Latest home price data suggested an uneven recovery in China's housing market, with prices in first-tier cities such as Shenzhen and Beijing soaring while those in some smaller cities are still under pressure.
Zhao Song said the frenzied market in the top-tier cities have sped up the land price increase in other parts of the country.
To cool down the sizzling property market, a number of local municipal governments have released tightening measures including raising the down payment requirement and putting stricter lines on obtaining mortgages.
Related Stories
China's home prices continue to rise in March 2016-04-18 10:07
Property market rebounds but housing stocks flat 2016-04-16 09:20
China's least affordable housing market: Shenzhen 2016-04-15 13:36
China property investment grows 6.2% in Q1 2016-04-15 10:31
Second-tier cities bigger draw for property developers 2016-04-12 14:48
Today's Top News
China says financial crisis caused weakening global steel demand
Embryos growing in space a 'giant leap'
Russia to defend regional security jointly with China
Passage to piraeus
In the hall of the great frescoes
World Bank joins AIIB on financing for joint projects
GM seeds to get oversight
Russia-China ties benefit both countries, peoples
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Season of the locust eaters |
Humble bicyclist becomes Beijing nighthawk |
Chinese must adapt to UK 'study shock' |
Seeking stars from hollywood |
Riding on emotions |
When the Bard met his Chinese match |