2018-09-05

Government Jawboning Chills Land Market Nationwide in August

Nationwide data shows a chill in the land market last month following two months of jawboning and stepped up regulations.

SCMP: China’s land auction premiums drop to lowest levels in over three years as price curbs show effect
The average land auction premium over starting bidding prices in 40 major Chinese cities monitored by E-house China R&D Institute fell to 17.3 per cent – its lowest level since June 2015, during the last property downturn, and compared with 38.2 per cent a year ago.

Average land sale prices also dipped by 2.9 per cent from July to 4,472 yuan (US$654) per square metre, the fifth straight month-on-month decline.

Separately, another report by China Index Academy, which monitors a wider pool of 300 Chinese cities, found the average premium falling sharper to 9 per cent from 30 per cent a year ago, while average prices declining 9.8 per cent over July to 2,598 yuan per square metre.
21st Century: 40城土地出让均价连跌5月 部分二三线城市成重点“争夺地”
According to data from the Yiju Research Institute, in August, the typical land transaction premium rate of 40 typical cities was 17.3%, which was the lowest in 39 months, down 20.9 percentage points from the same period last year.

The land market fever has continued to die down.

Recently, a number of institutions released data on the land market in August. According to data from the China Index Academy, in August, the total land area of ​​300 cities across the country was 73.22 million square meters, a slight increase of 1% year-on-year. The total amount of land transfer fees was 351.6 billion yuan, a slight increase of 4% year-on-year, and the data increase narrowed significantly.

The premium rate continues to decline. In August, the average premium rate of land in 300 cities nationwide was 9%, a decrease of 5 percentage points from the previous month and a decrease of 21 percentage points from the same period last year.

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