China Property: There has been some pickup in land acquisitions by major developers in certain cities. Guangzhou, Beijing, and Hangzhou attracted the most spending by major developers on land acquisitions for the Dec – Feb period.
Local reports point to some highly competitive land auctions in March and early April in a few cities incl. Beijing (with one in Changping district attracting 42 developers), Hangzhou, Guangzhou, Nanjing (4 of 11 were at a maximum price), and Qingdao - with more cases of winners by lottery.
That's one bit from the latest CityScreener(TM) Report by Real Estate Foresight released to clients yesterday, where we slice and dice the metrics for house prices, sales volumes, land sales, inventory clearing, and major developers' land acquisitions, across 40+ cities.