Record Land Sale in Shenzhen Underscores China's Housing Demand
- Shenzhen sells five residential plots for record $3.3 billion
- Hard for developers to profit under current curbs: Centaline
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Chinese developers are betting property curbs will eventually be loosened after splashing out for land in Shenzhen.
A sale of five plots of residential land Monday raised 22.4 billion yuan ($3.3 billion), a record single-day haul since the city, part of the Greater Bay region with Hong Kong, started open land bidding in 2001.