Increase in land prices surprises China developers
THE premiums that developers in China pay for land rebounded sharply in the first quarter of 2019 as credit conditions and purchase requirements eased, taking some firms by surprise and prompting caution from others on the pick-up in prices. Many land auctions failed to secure bids or the reserve price in the second half of last year, as developers faced tighter credit conditions and thinning profit margins following a prolonged government campaign to rein in hot property prices and a slowdown in the economy.
Tags : INTERNATIONAL