Shanghai has cancelled five planned land sales worth a total of 10 billion yuan (US$1.47 billion) in 20 days, underscoring dampened appetite of developers weighed on by tightened funding and tepid sales.
The latest abandoned bidding for a prime site in Yangpu district to sell from a starting price of 4.6 billion yuan, brought cancelled land auctions this month to five, according to an announcement on the Shanghai Land Market website on Monday. It did not give reasons for the cancellation, but…
Source : South China Morning Post
Read more…Shanghai scraps land sales worth US.5 billion in 20 days as developers lost mood to shop amid tightened controls and glut















