According to statistics collected by “Home Link Real Estate” (链家地产), a company that monitors real estate statistics, by Jul 2011, the number of national land auctions that had been abandoned after failing to attract enough interest from buyers climbed to 353, more than triple the number over the same period of last year. Residential land auctions accounted for 46% of the sales that were abandoned. A noticeable increase in the number of abandoned auctions occurred in cities that have introduced various purchase restrictions on real estate.

Source
Economic Observer Online

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