Home » Business » Real Estate
Pudong land sold at highest price
Print Edition
A land parcel in the Pudong New Area was sold for 1.61 billion yuan (US$259 million) yesterday, the highest price this year by floor price, the local land management authority said.
A consortium led by Gree Group acquired the plot, which is designated for housing, in Qiantan. The parcel’s average gross floor area price was 65,800 yuan per square meter, a surge of 127 percent from its starting price and a record so far this year.
It was another record-breaking sale in one month. In November, a 126,740-square-meter land parcel in Shanghai’s Huangpu District was sold for 24.85 billion yuan, a record by total price. It was also the second-most expensive plot by total price ever sold on the Chinese mainland.
Such transactions occurred after signs of a slight rebound were seen in China’s home prices. Last month, new home prices in Shanghai fell 0.3 percent from a year earlier, narrowing from the 0.7 percent drop in October.
Nationwide, prices of pre-owned homes in 58 of the 70 major cities fell last month, down from 64 in October. Home sales rose 11.6 percent in November to 809.6 billion yuan, the highest since the start of this year.
The authority eased house buying curbs in late September to prevent a sharp slowdown in the sector. The central bank also cut interest rates to trim financing costs to boost the broader economy, which partly helped the property market.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
