Caixin Global图表文章 Graphic News: The Rise of "Land Kings"
07.14.2016 18:49

Graphic News: The Rise of "Land Kings"

Land prices in 50 major cities jumped by nearly 50 percent in the first six months of the year as investors with deep pockets snapped up plots at record-breaking prices, research shows
By Intern reporter Cheng Xiaoshan

The value of land sales in 50 major cities in China rose by nearly 50 percent compared to the previous year, to over 1 trillion yuan in the first six months, data from a research center affiliated to real estate firm Centaline Group showed. The sales included over 200 "land kings," a reference to a plot sold for a record-breaking price. While sales at a high premium helped fill local government coffers, rising land prices have raised concerns among industry analysts because it can push up housing prices, adding to the woes of property developers stuck with large inventories of unsold homes.

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