China's land prices remain stable

China's land prices are stable overall and are not likely to boost home prices, an official from the Ministry of Land and Resources said on Thursday.

Though more property developers increased their land parcels in the last two months, there was no significant increase in the prices paid in those transactions, Xinhua News Agency cited the unnamed official from the ministry as saying.

"In most cases, most of the land parcels were sold at the base price or at a price with a small premium," said the official.

According to the official, the rate of the prices premium is much lower than in the same period of last year.