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China's land transaction up 2% in Apr

May. 7, 2012 (China Knowledge) - China saw land transaction turnover total RMB 40.76 billion in 30 major Chinese cities last month, reflecting a year-on-year increase of 2% but a sequential decline of 5%, according to statistics released by Nasdaq-listed China Real Estate Information<CRIC>.

In April, the country's land transaction area decreased 6% from a year earlier or down 2% month on month to 2,542.4 square meters. The average price was RMB 1,603 per sq m of potential floor area, up 9% year on year but down 2% month on month.

The average price for the first four months of this year reached RMB 1,878 per sq m of potential floor area, representing a decline of 11.2% from a year earlier.

Qingdao, a major city in Shandong Province, saw land transaction turnover reach RMB 4.67 billion in April, followed by Nanjing RMB 4.14 billion, Jinan RMB 3.43 billion, Beijing RMB 3.35 billion, Tianjin RMB 2.99 billion, Hefei RMB 2.54 billion, Chengdu RMB 2.34 billion, Shenyang RMB 2.25 billion, Wuhan RMB 2.2 billion and Zhenzhou RMB 1.83 billion.

China Vanke Co Ltd<000002><200002>, the country's largest listed residential property developer, acquired five plots last month in Tangshan, Qingdao, Nanchong and Guiyang for a combined RMB 1.48 billion.

CRIC, a leading provider of real estate information, consulting and online services, is jointly launched by E-House (China) Holdings Ltd<EJ> and Sina Corp<SINA>.

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