Beijing's land revenue in Jan totals 20.6b yuan

Beijing's revenue from land transfers in January totaled 20.6 billion yuan ($3.31 billion), the highest since 2003, according to 5i5j, a national property brokerage.

A total of 18 parcels of land were sold in Beijing this month, which was a record number. In January 2012, the figure was just 2.19 billion yuan.

China's property prices will continue to rise in 2013, fueled by tighter supply, quickening urbanization and an improved economy, experts said.