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China: Booming land sales fuel predictions of real estate rebound

Posted on 11 October 2012

Land sales in China’s 10 major cities more than doubled in the third quarter compared with the previous one, with the price premium picking up, fueling expectations of a speedier rebound in the country’s real estate sector.
Statistics from real estate service provider Homelink showed that local governments in the 10 cities, including Beijing, Shanghai and Guangzhou, received 135.2 billion yuan ($20.8 billion) from selling land parcels in the third quarter, up 123.8 percent on the second quarter. Floor space sold during the same period jumped 70.1 percent………………………………………..Full Article: Source


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