Beijing's land sales reached 9-year high in Jan

Beijing's revenue from land transfers in January totaled 24.17 billion yuan ($3.88 billion), the highest since 2003, according to 5i5j, a national property brokerage.

A total of 22 parcels of land were sold in Beijing this month, which was a record number. In January 2012, the figure was just 2.19 billion yuan.

"The central government will increase land supply this year. And the local government will also ramp up land supply due to the dropping land revenue last year," said Zhang Xu, a researcher with property brokerage Homelink.

"The land supply increase should alleviate the anxiety over housing price increases this year," Zhang added.

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