China's Land Prices See Slower Quarter-on-Quarter Growth

BEIJING, Jul. 18 -- China's land prices in 105 cities rose 1.87 percent on average in the second quarter over the first, but the rate of growth slowed, the China Urban Land Price Dynamic Monitor, a land price information provider, announced Sunday. In the second quarter, land price for business properties averaged 5,506 yuan (about 847 U.S. dollars) per square meter, up 2.77 percent from the previous quarter. The growth rate slowed by 0.56 percentage points.

Land price for residential properties averaged 4,443 yuan per square meter, up 2.17 percent. The growth slowed by 0.27 percentage points. The price for industrial uses, meanwhile, was up 1.13 percent to reach 645 yuan per square meter. The growth fell 0.3 percentage points.

The country's three most prosperous regions, the Yangtze River Delta Region, Pearl River (Zhujiang) Delta Region, and the Bohai Rim, all reported slower land price growth in the second quarter.