The China Index Academy reports that for-sale land supply across 103 Chinese cities doubled year over year, in the first half of 2010.
This supply surge is starting to bite:
The average floor price of land in the 103 cities dropped nine per cent in the first half of the year from the second half of 2009 to 1,863 yuan per square meter.
The average floor price of land ranged between 1,600 yuan to 2,000 yuan per square meter in June, lower than the figure recorded in the the second half of 2009.
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