Hong Kong/China Property Daily:Inside the Great Wall

Land prices in some cities might decline this year, reportedly

    Media reported that total construction land supply in 2016 for residential usedropped by 10.3% YoY to 10.75 Ha. Over 60% of the land supply in 2016 wasfrom existing land reserves, especially in the megacities. An expert commentedthat the fast increase in land price last year reflected the effectiveness ofinventory clearance. However, due to the continual government measures andthe direction set during the Central Economic Work Meeting, investment incore cities will likely be slowed down, possibly resulting in decline in landprice. (CFI)

    Inventory period for residential properties in Chongqing drops to 3.6 months

    Media reported that during the week of 6-12 February, new supply ofresidential commodity properties in Chongqing increased by 557% WoW to129.4ksqm with sales volume climbing 262% WoW to 548.2ksqm. ASP onGFA basis increased by 4% from the week before to RMB7,300 psm. Inventorylevel for commodity properties in the city dropped to 5.4 months, while that forresidential commodity properties was recorded at 3.6 months. (CFI)