In the bid to give the economy a boost, local governments are selling more prime real estate. With ample liquidity and the unexpected improvement in property sales experienced by China in the first quarter, many real estate companies expressed their intent to splurge on land as they expect housing demand to remain strong. With the easing of travel restrictions in recent weeks, data from researcher CRIC recorded an 136% increased in sales from the first quarter, though a decline of 21% when compared to the same period last year.
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