Downtown GZ Land Value Hits Record High at 345 Million Yuan

Guangzhou land prices reached a record high in Zhujiang New Town yesterday after a period of a year and a half (June 10), the Southern Metropolis Daily reports.

The last available parcel of residential land in the new central business district (CBD) was obtained for 345 million Yuan by the Guangzhou City Construction Property Management Co., Ltd. After 50 rounds of bidding by various property companies, the sought-after land hit a high price of 15,323 Yuan per square meter.

The current housing price in Zhujiang New Town is about 20 to 25 thousand Yuan per square meter, but housing prices on the last parcel may exceed 30 thousand.

(By Zhu Yanshan and Stephen Roach)

Source: Lifeofguangzhou.com

Editor: Zhu Yanshan