Beijing land sales for the year hit RMB192 billion (US$ ) on Tuesday to exceed the RMB191.7 billion annual total of 2014, South China Morning Post reported. Beijing accounted for four of the five most expensive residential land transactions on the mainland through the end of October, according to Chinese property site Fang.com. “Developers’ margins will continue to be undermined, but at least the projects can be sold if they are in the first-tier cities; that would be a question for those in second- or third-tier cities,” said Jeffrey Gao, head of China property research at Nomura. For more on China’s intensifying property market dichotomy, see CER’s in-depth report.
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