china-suburbia-080

china-suburbia-080

China Suburbia cover
The housing market remains a major driver of growth in China. Recently the trend is changed and in the first eight months of 2015 the volume of land sales nationwide fell 32.1% to 141.1 million square meters, according to the data issued by National Bureau of Statistics. While a few years ago most of the land was purchased by land developers, now many sites went unsold during auctions. Consequently, construction starts should decline. While land sales are bright in major cities such as Beijing and Shanghai, in less-developed cities, known as third and fourth tier cities, accounting for more than 60% of the country property market, the land sales were sluggish.
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