Shanghai Suspends 4 Land Sales to Stop Price Rise

Shanghai suspended four land sales amid soaring land prices this past week, part of the government effort to slow the market.

Caijing: 上海7天中止4宗宅地出让 严防地王成热点城市要务
August 24, the Shanghai land market public announcement and suspend Putuo District a block transfer activities. Which is nearly seven days, and the third land land market in Shanghai to suspend the transfer notice issued, involving a total of four residential sites.

August 22, Pudong New Area, Shanghai Tang Town, New Town Lot aborted transfer; 18, Pudong New Area, Shanghai International Medical Zone 20-10,21-10 land transfer activities have been suspended. The industry believes that four consecutive residential land was stopped, the reason behind that is the urgent regulation of Shanghai hot land market pathogenic fire.

Reporters learned that the land market in Shanghai with 17 days to sell the Jing'an District, Baoshan District, Qingpu District, three plots, one-day total of 18.4 billion yuan of land transfer income, land prices have hit three regional price king record. Among them, the Jingan District Lot to 11.01 billion yuan of the total amount sold, the floor price of more than 100,000 yuan / square meter, the premium rate of 139%, setting a national record of historical unit to the king.

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