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On
April 16, Nanchang Municipal Public Investment Holding Group bought a land lot
in Beijing’s Dongcheng District for CNY 1.92 billion, equivalent to an average
price of floor area of CNY 25,700 per square meter. The land can be used for
both commercial and residential purposes.
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The
lot was sold with a premium rate of 43% due to its special location. In Beijing
and other cities, both land auction price and premium rate have fallen due to
the real estate tightening policies.
The price of the target lot is low compared with prices of other land
lots in the Dongcheng district.
Average sales prices of both commercial and residential land in Beijing
have dropped this year
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