Chinese land prices saw a steady rise in the second quarter of the year, according to official data released on July 15.
The average commercial, residential and industrial land prices in China’s main cities tracked by the Ministry of Land and Resources all experienced mild increases of not more than one percent on a quarterly basis. Year-on-year growth, meanwhile, remained below four percent.
A senior analyst at the ministry’s China Land Surveying and Planning Institute says that shows partial variations while the overall tone of the market remained steady.
“The tone has remained steady, with partial variations. Differentiations among cities has continued. The sequential growth rate of land prices across the nation saw a small increase in the second quarter. That is, the quarter marked an accelerated rise of land prices,” said Zhao Song, Director of Land Price, China Land Surveying & Planning Institute.