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Land prices gain mildly

Last Updated: Thursday, February 16, 2017 - 14:39

LAND prices in major Chinese cities, in particular to Shanghai property, posted mild gains in 2016, propelled by rising residential land price on the back of the housing market recovery, official data showed yesterday.

The average land price in 105 cities monitored by the Ministry of Land and Resources was 3,826 yuan (US$557) per square meter in 2016, according to statistics published on the ministry’s website.

The price represents a rise of 5.3 percent from a year earlier.

Land for residential use was priced at an average of 5,918 yuan per square meter, 7.9 percent higher than a year earlier, said the ministry.

In comparison, average land price for industrial use stood at 782 yuan per square meter, up 2.8 percent year on year.

--source from Shanghai Daily

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