Major Chinese cities halt second round of centralised land sales after first round failed to curb developers’ appetite and tame prices

Several major Chinese cities including Shenzhen, Tianjin and Qingdao have called off their second round of centralised land sales as local authorities consider ways to improve the new system designed to cool the housing market.It comes after the first round of auctions under the new regime earlier this year failed to achieve the objective of taming the appetite of developers and keeping a lid on prices.Qingdao in Shandong province halted the centralised auction of 100 plots of land on Wednesday…

Major Chinese cities halt second round of centralised land sales after first round failed to curb developers’ appetite and tame prices
Several major Chinese cities including Shenzhen, Tianjin and Qingdao have called off their second round of centralised land sales as local authorities consider ways to improve the new system designed to cool the housing market.It comes after the first round of auctions under the new regime earlier this year failed to achieve the objective of taming the appetite of developers and keeping a lid on prices.Qingdao in Shandong province halted the centralised auction of 100 plots of land on Wednesday…