50 'hot cities' sold land for a total...>

CHINA PRESS: 50 'hot cities' sold land for a total of CNY313 billion in May,

increasing 111.5% y/y, and sold land for a total of CNY1.5 trillion during the

first five months of this year, rising 57.6% y/y, according to data from

Centaline Property, the 21st Century Business Herald reported on Thursday. 

  - The land premium rate has, however, remained at a lower level this year at

around 10%, compared with around 30% during 2015-2017, the report said. 

  - The performance of land markets for different cities are diverging, with

first-tier and some second-tier cities suffering from lower sales because of

strict controls on the property market, while third-tier cities' markets are

hot, the report said, citing Zhan Yifan, an analyst at E-house China R&D

Institute. 

  - Booming land sales in the first five months were partly caused by property

developers' low inventories, while control policies will make these developers

more cautious of buying too-expensive land, which might signal more steady land

purchasing in the future, said the report, citing Zhang Bo, the chief analyst at

Anjuke, a Shanghai-based property brokerage company.