July 30, the Ministry of Land and Resources issued vital statistics about the land and resource management in mainland of China for the first half of 2013. Data showed that in the first half of 2013, the state-owned construction land supply amounted 277,500 hectares, an increase of 3.5% over the same period and the total land supply is at a high level in recent years.
Consolidated Report by ChinaAbout.net: On the afternoon of July 20th, the foundation ceremony of the world’s tallest building, the 838 meters high “Sky City” was held in Changsha, capital city of central China’s Hunan Province. The height of the “Sky City will be 10 meters higher than the current world’s highest building of Burj Khalifa Tower in downtown Dubai.
In China ownership of lands belongs to the government, people can only pay to use it within a certain period of time. Under current law, the term of use for residential land is 70 years, then 70 years later, what will happen to the houses? This fear involves two major concerns: First, if the land is retrieved by the government then will the building become a “castle in the air”?; Second, even the land is not taken back by the government; the owners will have to pay a fee the amount of which is unknown.
On 9 June, a piece of land  No. 020 in Changsha City was auctioned online with starting price of 170 million yuan (US$ 27.2 million). It is reported that the famous real estate developer Agile Property made a beginning bid of 260 million yuan and without any further bid from other developers, Agile Property increased the offer to 1.15 billion (US$ 184).
In a typical shared apartment in Chaoyang District, Beijing, the 100 square meters area is divided into 6 bedrooms accommodating about 20 people usually. Each bed is pried 500-900 yuan per month.