National Land Transactions in April Double Compared to Previous Month, First-tier Cities Leap 258% YoY
Land transactions in China posted a sizeable on-month leap in the month of April as the roll-back of COVID-19 lockdowns helped the national economy come back to life.
Data from CRIC (克而瑞) indicates that China saw 529.8 billion yuan in land transactions in April, for a near doubling compared to March.
The transaction building floorspace was 173.14 million square metres, for a rise of 57.5% compared to the previous month, and a contraction of around 10% compared to the same period last year.
First-tier cities posted a land transaction building floorspace of 4.43 million square metres, for a YoY rise of 258%, while for second-tier cities the transaction floorspace was 50.55 million square metres, for a rise of 6% compared to the same period last year.
Out of China’s top 50 real estate enterprises around half made land purchases of over 5 billion yuan in April, while nine of them made investments of over 10 billion yuan, including Poly Development, Evergrande, Country Garden and Greentown China.