Land prices rise fast in Beijing

China remains the most active market in land development among Asian economies, with first-tier cities seeing significant land price appreciation over the last two years, property consultancy Knight Frank said in a report released Wednesday.

Beijing emerged as one of the markets with the strongest price growth with an increase of 37 percent and 53.1 percent respectively in the prime residential and office development land over the last two years from December 2011, the report said.

Guangzhou followed with 30.8 percent and 28.7 percent increase in the prime residential and office indices respectively, while Shanghai saw a 20.0 percent and 19.4 percent increase respectively.