Land area for new China housing drops 25% in 2014

Beijing

THE area of land used in new property developments in China fell by a quarter last year compared with 2013, state news agency Xinhua said on Tuesday, highlighting the extent of the country's housing downturn.

Land allocated to new real estate developments dropped 25.5 per cent last year to 1,510 square kilometres from 2013, Xinhua said, citing data from the Ministry of Land and Resources.