A man drives a tractor carrying building materials past a property under construction in Xiongxian county, Hebei province, China. Photo: Reuters
China’s runaway house prices may ease as centralised land sale forces developers to curb spending spree
- Developers will be forced to rethink their acquisition plans as land will be sold only three times a year under the new system
- Land sales in China rose 15.9 per cent last year to 8.4 trillion yuan (US$1.3 trillion), with many plots fetching record prices
A man drives a tractor carrying building materials past a property under construction in Xiongxian county, Hebei province, China. Photo: Reuters
