Land transactions heating up in China

The number of land transactions expanded for nine consecutive months through October of this year. This is according to figures from the China Index Academy, a real estate research institute.

In October, the transaction volume of land in 60 major cities of the Chinese mainland more than doubled that of the same period last year. Meanwhile, the area of transacted land nearly tripled year on year.

The eastern cities of Hangzhou and Ningbo have seen the largest number of land transactions, followed by the northern city of Tianjin. In terms of the capital, rising prices have pushed sales revenues for the first three quarters past the total for 2007.

Shanghai has witnessed the largest income from land sales, followed by Beijing and Tianjin.