Rising Land Prices Pull Up Home Prices in Xiamen

Following a a new "land king" coronation in Xiamen,the winning developer hiked prices for new homes:
June 16, three thousand buildings in Tong'an Poly Real Estate, sales staff said that real estate in the second half of last year for the first time the opening price of 17,000 yuan / square meters, this year April 22, close to the commercial and residential real estate TP02 Lot after more than 200 auction rounds, eventually Poly won with a 5.426 billion yuan bid, the floor price traded as high as 25,838 yuan / square meter, become Xiamen island "land king". The Poly building then opened the next day, the average price jumped directly to 28,000 yuan / square meter, "pushed more than 300 sets, sold 90% of our current average price has risen to 32,000 yuan / square meters, is expected to end will be opened. "sales staff said, real estate prices soared nearly doubled mainly due to soil surrounding land shot last year, 17,000 yuan / square meter price, customers are mainly just need, but after prices this year is to improve the type and investments.
What happens if credit growth slows and the air comes out of the land sales bubble?

iFeng: 楼市疯狂又一样本:地王卖出后 楼盘涨价万元

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