China Tells

A record price from the bid of land has been reached by China State Construction Engineering Corp in this week, breaking into a new high of USD 4,759 per square meter for a total land size of 114,517 square meters (See Article from WSJ). It is notable that such is just the price for the land only. Based on such land price, the property to be built would have to sell probably at least $7,500 per square meter just to breakeven. The property price in Shanghai and Beijing has gone up in a crazy mood in the last 6 months (See Article from Chinatells). It has raised concerns from China government to cool down the property market. Also there is a danger of social unrest if the housing price goes out of control. Whether the current property market is a bubble remains to be seen.

中国建筑工程公司近日在上海一块地的招标中创下历史纪录，以每平方米3万2千多的价格拍下上海一块11万4千平方米的地块。这个价格超出了很多市场行家的预测，让人大跌眼镜。中国楼市，特别是一线城市的房价，在近6个月疯狂上涨，让人再次产生楼市泡沫的怀疑。