| Five large real estate enterprises in China invested 11.05 billion yuan ($1.75 billion) to bid for land from Nov 13 to 15, reports say. But with the final price fetched for some land being 44 percent higher than the bid price it would appear that a new round of price hikes is just around the corner.
The phenomenon is caused by different factors. The Chinese economy is expected to enter a new phase, with property developers feeling the authorities will loosen controls. Some local governments are also eager to increase their revenues from land transfers, to relieve their debt burden..............................................Full Article: Source
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