China’s top 100 property developers’ land spending fell at faster pace in Jan – Sept – research 
DATA REAL ESTATE
China’s top 100 property developers’ land spending fell at faster pace in Jan – Sept – research 
DATA REAL ESTATE

China’s top 100 property developers’ land spending fell at faster pace in Jan – Sept – research 

 

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China’s top 100 property developers spent a total of 859.9 billion yuan on land acquisition in the period of January – September this year, sliding 17.9% from a year earlier, widening by 7.4 percentage points from the drop in the first eight months, according to data compiled by the real estate research firm China Index Academy. 

In September alone, the top 50 property developers’ spending on land tumbled by 57.5% from a year earlier and sliding by 24% from the previous month, according to the data. 

In the first three quarters of the year, residential land supply in China’s 300 major cities declined by more than 30% from a year earlier, and in the third quarter, land market sentiment remained weak, with land supply and demand continuing to shrink, said the academy.