China H1 land sales up 25% by value, 0.1% by area: People's Daily

[SHANGHAI] The value of land sales in China jumped 25 per cent in the first half of 2016 but the area sold edged up only 0.1 per cent, the People's Daily newspaper reported on Wednesday, citing information obtained from the Ministry of Land and Resources.

The paper said land sales grew to 1.3 trillion yuan (S$262.7 billion), up by a quarter form the same period a year earlier.

Of China's 31 provinces and regions, 22 showed increases in sales value, with Zhejiang, Anhui, Hainan and Guangdong showing the largest rises.

Some 45,600 hectares of land was sold for real estate, down 2.9 per cent on the year. Of that amount, 30,700 hectares were for housing, down 3.8 per cent on the year.

In the second quarter, land prices for housing in 105 cities averaged 5,662 yuan per square meter, up 5.7 per cent on the year.

REUTERS