First-Tier May Land Sales Hit New Low, Second-Tier Picks Up

If land sales don't pick up sharply in the last week, this will be the first month since 2014 that first-tier city land sales do not reach ¥10 billion in a single month. Currently, the four top cities have sold only 22 plots of land for ¥4 billion.

One factor is the supply of land: Shanghai has seen land sales by area fall for 12 consecutive months, but in April, prices were at their highest level since 2010.

Second-tier cities have seen land sales increase, with 81 plots sold in May for a premium of nearly 17%.

iFeng: 一线城市单月卖地不足百亿创新低 地价却在创新高

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