Land Transfer Fees Down in Big Cities

(Beijing) – The land transfer fees for ten cities in May totaled 13.1 billion yuan, down 50 percent from the same month in 2011, a report by a consulting firm specializing in the real estate sector says.

The ten cities, including Beijing, Shanghai, Shenzhen, Guangzhou and Qingdao, sold land with an area of 14.23 million square meters in May, down 31 percent from May 2011, the report by E-house China R&D Institute said.