Land prices in China rose 9.29%

KUALA LUMPUR: Land rates in 105 cities in China rose to 2,756 yuan (RM1,306) psm in 2Q2010, or 9.29%, according to the Shanghai Daily on Tuesday, July 20.

The newspaper reported that China's Land Surveying and Planning Institute, which is under the Ministry of Land and Resouces, said on July 19 that land prices went up 1.52% compared to 1Q2010.

However, growth prices of land of residential use fell 1.24% from 1Q2010 to 2Q2010, which is a higher decline compared with the quarter-on-quarter drops in land price for commercial buildings (0.35%) and for industrial purposes (0.53%).

The institute attributed the slowdown to the tightening policies that the government put in place in April.
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