Now Suzhou Scraps Land Sales Due to High Bids

Suzhou real estate news is all over the map, but the latest story points to a still overheating land market:

Bloomberg: Land Sales Scrapped in China’s Suzhou as Bids Exceed Ceilings
Two land auctions were terminated in the Chinese city of Suzhou after bids surpassed limits set by the local government to stem a surge in land prices.

Offers on Monday for two plots of land in the manufacturing city, which is 30 minutes by train from Shanghai, exceeded ceilings established in rules released last week by authorities, which triggered the automatic cancellation of the online auction, according to a webpage compiled by Suzhou’s land resources bureau.

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