The NUS/Wharton/Tsinghua Chinese Residential Land Price Indexes (CRLPI) are constant-quality series that track changes in the real value of residential land parcels purchased via public bidding or auction from local governments in the 35 major cities across China. Data on the market share of these 35 markets in China’s aggregate land sales are not available. However, newly-built housing transactions in these cities as measured by floor area constitutes at least 30% of the national total for any year during 2004-2013, with the market share in value of these transactions being around 50% to 70%.
Index values are reported at quarterly, semi-annual, and annual levels for different levels of geographic aggregation (i.e., national, regional and city) depending upon data availability and quality. This white paper provides a technical description of the underlying land parcel data and the statistical methods used to estimate the reported indices.
All are welcome to download the index data. If these data are used in any publication or presentation, a reference to the following publication should be included:
Wu, Jing, Joseph Gyourko and Yongheng Deng (2012). “Evaluating Conditions in Major Chinese Housing Markets,” Regional Science and Urban Economics, Vol. 42, No. 2: 531-543.
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