Land Acquisition Fever in China Is Coming Back, with Nearly Half of Land Auctions across 18 Chinese Cities Saw Auction Prices Hit Ceilings

SHANGHAI, Apr 26 (SMM) - According to statistics, as of April 21, 18 of the 22 cities in China have completed the first round of concentrated land auctions in 2023, of which 48% of the land auctions saw their auction prices hit the ceilings.

Industry insiders pointed out that since the start of 2023, with the marginal improvement in economic expectations and gradually emerging effect of favourable real estate policies, the land auction market in core cities has recovered.

Land auction in Shanghai hit the highest since concentrated land auctions began in 2021.

Although central state-owned enterprises are still the main buyers in land acquisition, private enterprises in some cities have also shown strong enthusiasm for land acquisition.