City Sets Record in Revenue for Land Sales

City Sets Record in Revenue for Land SalesA record 46 billion yuan was generated in income from land sales in 2013, triple of the land sales for 2012. The data was gathered from Centaline Property that showed the number of plots which totaled 1.575 square kilometers that were publicly transacted in 20013 that generated the sales income which equaled the total income from land sales for the previous three years.

Nanshan District has seen around 21 land deals in 2012 which is more than any other district in the city which also involved plots that totaled .69 square kilometers and accounts for 43 percent of the total land sales in the city. Land transactions for industrial purposes was the biggest share of the land deals in Shenzhen for 2013 with a total of 1.18 square kilometers was transacted that will be used for industrial development was around 74 percent. Commercial land sales were 15 percent of the total and transactions.

Qianhai area next to Nanshan boasted of the largest transactions for plots that was designated for commercial use. Around five plots totaled .19 square kilometers which is less than 12 percent of the total land sales that was transacted in 2013, but around 53 percent of the total land revenue in the city. prices in Qianhai averaged 18,373 yuan per square meter double than the average price of 7,502 yuan per square meter in other parts of the city.

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