Land Sales Sink To 5-Year Low, Developers Rush To Move Inventory

"Now to the inventory is still the top priority, we are very careful about second-tier cities, third- and fourth-tier cities we have all withdrawn and in the future will basically no longer purchase land in these areas." A national housing prices president told reporters.

...May 19, when the reporter saw Li Wei (a pseudonym), he just returned from a business trip to Shanghai. As Beijing a medium-sized real estate group vice president in charge of the headquarters of the initial investment, the regional group concerned whenever there is land promotion, he would rush over to see.

"From the end of April to now this close to a month's time, basically to participate in land promotion in the field," Wei told reporters, "Jiangsu Sunan six cities, Yuhang, Chongqing, Wuhan, Shanghai, where are we to go , as well as the soil will push Sichuan, Hunan, Guangxi, several four-tier cities also gave us an invitation, but because we do not plan to purchase, so do not go."

...A bureau official in an Eastern capital city told reporters, "From the current situation, this year it will be difficult to hit land sales targets, developers are clenching their purse strings, we are powerless."

...In fact, the government worry is not excessive, in April the national land market slipped to the "freezing point."

Developers are nervous as well, even though sales are picking up. A sales director at a Beijing real estate firm said:

Now we're actually more nervous because everyone wants to move inventory, God only knows how long this period will last.

Developers aren't resting on hope that the market has turned; they're making hay while the Sun shines.

iFeng: 土地市场跌至五年冰点 房企拿地热情不高