Shanghai land prices rank No 2 in China
(eastday.com)
Updated: 2004-04-02 14:21

The average land prices in China reached 1,166 yuan (US$140.5) per square meter last year, an increase of 92 yuan (US$11.11) from a year before, and Shanghai ranked second nationwide with average land prices of 2,164 yuan (US$261.45), up 5.34 percent from the previous year.

On the basis of the land prices, the top ten cities are Beijing, Shanghai, Hangzhou, Nanjing, Chengdu, Tianjin, Guangzhou, Chongqing, Shenzhen and Guiyang.

According to statistics, the average prices of domestic land for business use reached 1,919 yuan (US$232) per square meter last year, those for residential purposes amounted to 1,103 yuan per square meter and for industrial use 494 yuan per square meter.

Such big cities as Beijing and Shanghai have higher land prices than other cities, with average land prices in Yangtze River Delta region exceeding those in Zhujiang Delta area.

Land prices in most developed cities were stable, with Beijing, Shanghai, Guangzhou, Shenzhen and Nanjing seeing small land price increases last year.

Beijing's land prices rose by three percent on average last year, and those in Shanghai increased by five percent, much lower than the growth rate in 2002. Residential land prices in Guangzhou and commercial land prices in Shenzhen declined last year.

Shanghai's average housing prices reached 5,118 yuan per square meter, an increase of 24.2 percent from a year before, five times as many as the land price growth.