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Huge increase in Chinese land for real estate
China’s supply of land for real estate saw a year-on-year rise of 98.4 per cent in the first half, and the land supply for low-income housing increased nearly 100 per cent, according to China’s Ministry of Land and Resources.
The land supply for commercial real estate in the first half rose 64.1 per cent year on year and the land supply for residential real estate rose 112.5 per cent year on year.
Of the 36 Chinese key cities, 30 cities saw year-on-year increase of real estate land supply in the first half, and 28 cities witnessed year-on-year rise of land supply for low-income housing.
The average transfer price of land for real estate declined 5 per cent in the second quarter from the previous quarter. The average transfer price of land for commercial real estate and residential real estate declined 17.4 per cent and 10.6 per cent respectively from the first quarter.
Analysts pointed out that the land supply data in the first half shows that China’s macro control policies on the real estate industry have shown results, as the land supply in the real estate market is sufficient now and the average transfer price has declined.
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