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23% of national fiscal revenues come from land sale in 2009
2010-02-05 09:43:26Source:People′s Daily OnlineAuthor:
According to data released by the Ministry of Land and Resources (MLR) February 2, the gross national land sale revenues increased sharply in 2009 reaching 1.59 trillion yuan, an increase of 63.4 percent year-on-year. The data issued by the Ministry of Finance in January shows that China's national fiscal revenues were expected to equal 6.85 trillion yuan in 2009, indicating that 23.22 percent came from land sale revenues.
According to the monitoring by the MLR on the national land market, the gross area of the national land supply stood at 319,000 hectares in 2009, up 44.2 percent year-on-year. With a rise in the gross land supply, the amount of land sale revenues also increased significantly. In 2009, the gross area of land transferred increased by 38.3 percent year-on-year to 209,000 hectares, and the amount of land sale revenues climbed by 63.4 percent year-on-year to 1.51 trillion yuan. The amount of transfer fees for land to be used for real estate development reached 1.34 trillion yuan, 84.2 percent of the total land sale revenues.
Indicated by data from the MLR, by the end of the fourth quarter of 2009, the average real estate price for the main 105 monitored cities nationwide was 2,595 yuan per square meter. The price for residential land was 3,726 yuan per square meter, representing an increase of 8 percent year-on-year. The growth was higher than that of 2008 but lower than that of 2007.
In 2009, 103,000 hectares of land for real estate development were provided, representing an increase of 36.7 percent year-on-year, and 76,000 hectares of residential land was provided, a growth of 38.8 percent year-on-year. Of the residential land, 64,000 hectares were common commercial residential land, representing an increase of 36.9 percent year-on-year.
In 2009, the soaring land sale revenues brought land finance under focus. According to Chen Guoqiang, director of the Real Estate Institute of Peking University, failed land auctions in the second half of 2008 were quite common, but since the second quarter of 2009, the real estate market began to recover overtly, and lots of "prime land" came into being. Both the quantity and price could not rival the year 2007. The increase in land premiums led to the increase in land sale revenues.
Chen analyzed that the year 2009 was an unusual year, which would not be repeated in 2010. This is because of a series of policy control measures that have been implemented causing participants in the market to become calm and rational. "The case of Dalong's land withdrawing is a warning to other enterprises. We should buy land in a rational way, which must be based on the strength of the enterprise. Dalong Real Estate is a bad example."
According to the monitoring by the MLR on the national land market, the gross area of the national land supply stood at 319,000 hectares in 2009, up 44.2 percent year-on-year. With a rise in the gross land supply, the amount of land sale revenues also increased significantly. In 2009, the gross area of land transferred increased by 38.3 percent year-on-year to 209,000 hectares, and the amount of land sale revenues climbed by 63.4 percent year-on-year to 1.51 trillion yuan. The amount of transfer fees for land to be used for real estate development reached 1.34 trillion yuan, 84.2 percent of the total land sale revenues.
Indicated by data from the MLR, by the end of the fourth quarter of 2009, the average real estate price for the main 105 monitored cities nationwide was 2,595 yuan per square meter. The price for residential land was 3,726 yuan per square meter, representing an increase of 8 percent year-on-year. The growth was higher than that of 2008 but lower than that of 2007.
In 2009, 103,000 hectares of land for real estate development were provided, representing an increase of 36.7 percent year-on-year, and 76,000 hectares of residential land was provided, a growth of 38.8 percent year-on-year. Of the residential land, 64,000 hectares were common commercial residential land, representing an increase of 36.9 percent year-on-year.
In 2009, the soaring land sale revenues brought land finance under focus. According to Chen Guoqiang, director of the Real Estate Institute of Peking University, failed land auctions in the second half of 2008 were quite common, but since the second quarter of 2009, the real estate market began to recover overtly, and lots of "prime land" came into being. Both the quantity and price could not rival the year 2007. The increase in land premiums led to the increase in land sale revenues.
Chen analyzed that the year 2009 was an unusual year, which would not be repeated in 2010. This is because of a series of policy control measures that have been implemented causing participants in the market to become calm and rational. "The case of Dalong's land withdrawing is a warning to other enterprises. We should buy land in a rational way, which must be based on the strength of the enterprise. Dalong Real Estate is a bad example."
