Shanghai | Hong Kong | Land sales across smaller and less wealthy Chinese cities have fallen to their lowest levels since at least 2011, highlighting the bleak prospects for a full recovery across a national real estate market mired in a slowdown.
Data from financial information provider Wind shows the total value of all land transactions in third-tier mainland Chinese cities, as ranked by population and economic development, fell 4 per cent to 362 billion yuan ($77 billion) in the first half of this year on the same period last year, despite a slight rise in sales for residential use.
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Financial Times