Land sales exceed US$6.5b

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October 10, 2013

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By Cherry Cao | October 10, 2013, Thursday |

Print Edition

Sales of land parcels exceeded 40 billion yuan (US$6.5 billion) in Shanghai in September, the sixth month that buying momentum has remained robust, with residential plots taking up the lion’s share of supply.

Excluding those designated for public uses, plots covering a combined site area of 1.08 million square meters were sold across the city last month for 40.3 billion yuan, the highest monthly record for both volume and value so far this year, Century 21 China Real Estate said yesterday.

“Land sales stayed above the 10 billion yuan threshold for the sixth straight month, with residential plots accounting for the lion’s share of supply in September,” said Eric Luo, a Century 21 researcher. “Notably, eight of the 14 land parcels earmarked for housing purposes were sold at more than double their starting price, a sign of increasing optimism among real estate developers.”

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