A view of Shanghai during its recent lockdown. About 60 per cent of China’s top 100 developers have not bought a single piece of land in the first five months of this year, according to one of China’s largest real estate brokers. Photo: Bloomberg
A view of Shanghai during its recent lockdown. About 60 per cent of China’s top 100 developers have not bought a single piece of land in the first five months of this year, according to one of China’s largest real estate brokers. Photo: Bloomberg
Business

Major Chinese cities see more land auctions being scrapped, as broke developers hobbled by ‘three red lines’ stay away

  • The average auction scrapping rate is 17 per cent for 20 cities that have finished their first round of land sales, rising from 6.5 per cent last year
  • Developers are hesitant as they are unsure about the housing market in the short term and because they do not have much to spend, analyst says

Pearl Liu
Pearl Liu

Updated: 10:07am, 14 Jun, 2022

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