Inside the Great Wall:8M17land sales up 37%yoy to RMB2.7trn

8M17 land sales up 37% yoy to RMB2.7trn.

    According to an announcement by the Ministry of Finance, total land sales valuein China in 8M17 amounted to RMB2.7trn, up 37.3% yoy. The growth rate is inline with that in the first seven months. Moreover, deed tax from propertyamounted to RMB41.4bn in 8M17, up 15.5% yoy. (Guandian).

    Xi’an prohibits buyers who filed forged information from purchasing housingfor 5 years.

    The local authority of Xi’an has launched a new measure in which individualswho had submitted forged information of their eligibility to buy housing will beblocked from buying any houses on the market for 5 years. This will apply to theperson and his/her family. Those who have guided the forgery of the documentswill also be punished. (CFI).

    Hong Kong top news.

    Low-density residential site at Tai Po Kau sold for HK$323mn.

    The tender for a residential site at Tai Po Kau, Tai Po has been awarded toManifold Limited at a premium of HK$323mn. Based on a GFA of 58,664sf (ata plot ratio of 0.71x), the average cost is HK$5,506psf, about 21% higher thanthat in a land tender for the same area in July 2016 (also awarded to Manifold).

    The Manifold general manager said the project investment amounts to~HK$1bn and they plan to build luxury residential units. (HKET)