China's land prices rose 8.1% y/y in 1Q

BEIJING: Chinese land prices rises moderated in 1Q, thanks to an increased supply of land during the same period, the land and resources minister said.

The average land price in a sample of 105 cities was up 8.1% in the first three months from a year earlier, reaching 2,700 yuan (RM1,262) per sq m, the official Xinhua news agency quoted minister Xu Shaoshi as saying.

Land prices increased 2.3% on a quarter-on-quarter basis, down from a 3% rate in 4Q.

The total supply of land in the first three months rose 67% from a year earlier to one million mu (164,000 acres), with land used for property development accounting for 39.2%, according to Xu.

Chinese property prices in 70 cities rose 11.7% in March from a year earlier, up from 10.7% in the year to February. – Reuters
Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.