Property News · September 22, 2016

Nanjing ‘land lottery’ a first for China’s soaring property market


The eastern Chinese city of Nanjing has introduced a “lottery” system for land sales, the first of its kind on the mainland, as land-hungry developers jostle for plots in a red-hot property market.
In a state-dominated market where a single land deal can easily be worth billions of yuan, local governments in major cities, the landowners, are reaping a windfall as property developers rush to bid for plots at prices that were unimaginably high only a few months ago.
It’s raising…

Source : South China Morning Post
Read more…Nanjing ‘land lottery’ a first for China’s soaring property market

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