Land prices hit record highs in Shanghai area
By Wang Ying | China Daily | Updated: 2011-02-15 07:50
Tightening measures fail to dampen developers' enthusiasm for property
SHANGHAI - Administrative restrictions and monetary tightening measures don't appear to have undermined the enthusiasm of property developers' for lavish land purchases.
A new local record was established during a bid for a plot on the city's Chongming Island, smashing the previous record on the island, which was set just two weeks before.
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