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Chinese property developers rush to bid for land, driving premiums sharply higher

Chinese real estate developers are rushing to bid for land, even at much higher premiums with relaxing credit conditions and purchase requirements.

Some analysts believe the trend is expected to be short-lived as the overall curbs on the sector will remain and warn developers to be more careful in bidding for land as high land prices in some case are making developers impossible to make profits.

Land sales revenue in 23 key second-tier cities including Chongqing, Zhengzhou, Wuhan and Hefei in the 17th week this year (22 - 28 April) hit 116.75 billion yuan, the highest amount since . . .

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