China Land Sales Cooling as Rules Tighten

Land sales in some of China's top cities are cooling as authorities in housing hotspots began to tighten regulations from July, the Economic Information Daily reported. Local authorities including Beijing, Hangzhou, and Nanjing city have significantly reduced land supply, especially high-value land parcels in the past month, the newspaper said. Land premium rates fell by 0.2 pp to 16.1% in July from June, the newspaper said citing data by CRIC. Land transactions have declined in the last two weeks with volume last week down to the lowest level since Q2, the newspaper said citing CRIC.