BEIJING: Property prices in good locations in core Chinese cities such as Beijing and Shanghai won’t fall, although prices in areas outside central locations may decline, Liu Xiaoguang, chairman of Beijing Capital Land Ltd, said on Oct 20.

Prices of homes in good locations in second- and third-tier cities will steadily increase, he told a briefing in Beijing on Oct 20.

The company’s strategy is to increase sales and control costs, he said. The developer won’t fight to obtain land reserves by submitting high bids at auctions, Liu added. – Bloomberg LP
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