2011-05-31 09:02

BEIJING -- The Ministry of Land and Resources (MLR) said Monday that it will check land transactions completed since the beginning of the year to monitor unusual price fluctuations and prevent rebounds in residential land prices.

Local governments at or above the county level should check land transactions completed since January and report before June 30 about land transactions of unusually high prices, said the MLR.

The MLR previously ordered local governments to submit reports on those lands auctioned with the premium rate exceeding 50 percent and the total value or per square meters prices hitting record highs.

Prices of residential land grew slower in the first quarter of the year amid the country's efforts to tighten the property market. But overall land prices still saw small increases driven by market expectations and inflation concerns.