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Shanghai halts land auctions as surging prices worry officials

Published Thu, Oct 22, 2015 · 09:50 PM
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Shanghai

SHANGHAI has halted six land auctions since Oct 12, as officials seek to rein in the property market after the government's loosening of curbs triggered surging prices.

The city on Oct 12 called off an auction for a plot of land in Yangpu district, with a starting price of four billion yuan (S$876 million), two days before it was scheduled, saying "more conditions are needed to be met to develop the land".

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