FILE PHOTO: An agent attends to a customer near a scale model of residential buildings at a property fair in Shenzhen, Guangdong province, China October 12, 2024. REUTERS/Nicoco Chan/File Photo
Beijing: Chinese state-backed developers are starting to buy land at a premium again after the government eased limits on home prices to revive a slumping market that’s been a drag on the economy for more than four years.
The number of land parcels that sold for at least 20% above the asking price accounted for 37% of deals this year, according to a Bloomberg analysis of transactions worth at least one billion yuan or about US$137.8mil tracked by China Index Academy.
