The land transactions in 10 typical Chinese cities monitored by E-house China R&D Institute totaled 206.15 million square meters in 2015, down approximately 20 percent year on year, according to a report released by the institute recently.
Land transaction fees in the 10 cities reached 833.3 billion yuan in last year, down 5.7 percent year on year. The average land transaction price in the 10 cities was up 15.7 percent year on year to 4,042 yuan/square meter in 2015. Cao Nina, an analyst with E-house China R&D Institute, said that real estate enterprises will continue to flee from tier-3 and tier-4 cities and rush into the tier-1 and tier-2 cities.
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