Chinese cities tighten rules for land auctions to curb speculation, rein in rising land prices
Chinese cities tighten rules for land auctions to curb speculation, rein in rising land prices

Chinese cities tighten rules for land auctions to curb speculation, rein in rising land prices

 

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Several Chinese cities including Guangzhou and Hangzhou have tightened rules for land auctions in a move to curb speculation and rein in rising land prices.

China's top cities early this year adopted a centralised land-sale system, in which, they limit the number of land auctions a year to three times while increasing land supply for bidding at each auction. The move was aimed at creating a fairer competition environment and curb price premium, industry insiders had said.

However, the first round of centralized land auctions saw high price premium and top developers snapping . . .

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