10 major Chinese cities' revenue from land transfer up 71.9 pct m-o-m in Nov
BEIJING, Dec. 2 (Xinhua) -- The revenue from land transfers in ten major Chinese cities monitored reached 96.4 billion yuan in November, soaring 71.9 percent month on month, and the growth rate was about 15 percentage points higher than that for October, according to data from the real estate service provider E-house China.
Construction areas of the land transferred in the ten cities in November totaled 18.05 million square meters, up 33.3 percent month on month, but down 29 percent year on year. Notably, the year-on-year growth kept narrowing down for two consecutive months.
Analysts hold the rebound of land transfer in both revenue and quantity reflects these cities' land market will further recover in the future.
As of price, land transfer price in November set a record high since 2011, with average land transfer price of the ten cities reaching 5,341 yuan per square meter, up 29 percent on both month-on-month and year-on-year basis.
The ten cities include Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Hangzhou, Wuhan, Xi'an, Chengdu and Chongqing. (Edited by Hou Yujie, firstname.lastname@example.org)