Breakdown of new land area leased in Shanghai 2021, by purpose
In 2021, almost 18.9 million square meters of new land plots were leased in Shanghai. As China's economic hub, about 44 percent of new land was designated for storage or industrial purposes, with another 7.3 percent allocated for commercial buildings. Almost 48.5 percent of new land plots were leased for building new homes for residents. Shanghai has one of the most competitive housing markets in China, with prices for land plot leases being among the most expensive in the country.
