Chinese real estate developers slowed land acquisitions in September as the authority's tightening rules on homebuilders' debt and leverage have turned them more cautious in acquiring land reserves.
The average price of land sold in the 300 major Chinese cities fell 2 per cent in September from the previous month to 2,621 yuan ($390) per square meter, marking the third monthly decline in a row, according to the property consultancy China Real Estate Information Corp . . .
To continue reading, please subscribe. You will get
- THE WIRE - An Unrivalled Real-Time Platform providing up-to-the-minute updates of market-moving news and views utilising a network of journalists, traders, brokers, analysts, etc. We walk you through every trading day in China with marking-moving information you must know. Here are some screenshots of the wire updates.
- IN-DEPTH & DATA-DRIVEN reporting on major events about China's economy, policy and financial markets.
- DETAILS - We bring you important details that you won't find elsewhere.
- WEEKLY NEWSLETTER with Editors' Picks
Already have an account? Sign In