Land Sales Dropped 40 Percent in 300 Chinese Cities

A man works at a construction site of a residential skyscraper in Shanghai. JOHANNES EISELE/AFP/Getty Images

In February, total land sales across 300 cities in China decreased by 40 percent from January, and 30 percent year-over-year. Both sales volume and prices fell.

According to Shanghai-based Tospur Real Estate Consulting Co, there were a total of 1,168 land transactions in 300 Chinese cities in February, a decrease of 44 percent from January (2097 transactions) and down 19 percent from February last year (1443 transactions).