Beijing lowered the price of two parcels in eastern Chaoyang district by 15 per cent. Photo: AFP
Beijing lowered the price of two parcels in eastern Chaoyang district by 15 per cent. Photo: AFP

Major Chinese cities cut land auction prices by up to 20 per cent to lure cash-strapped developers amid market gloom

  • Beijing, Hanghzou and Shenzhen are among the cities to have cut the reserve prices of land parcels going under the hammer
  • Almost a third of the 700 plots across China that went on sale since September had to be withdrawn because they failed to generate enough interest from developers

Topic |   China property
Beijing lowered the price of two parcels in eastern Chaoyang district by 15 per cent. Photo: AFP
Beijing lowered the price of two parcels in eastern Chaoyang district by 15 per cent. Photo: AFP
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