LAND sales in Shanghai rose nearly 25 percent in volume and more than 7 percent in value during the first 10 months of this year, Soufun.com, a major real estate website, said yesterday in a report.

A total of 11.7 million square meters of land parcels, designated for both residential and commercial development, were sold between January and October across the city, an annual increase of 24.53 percent. They were sold for 99.74 billion yuan (US$15.76 billion), a rise of 7.17 percent, according to Soufun.

"Land parcels offered for sale this year had a higher starting price compared with last year, and a notable increase in volume, about 25 percent, also contributed to a moderate growth in value," said Zhang Wanyu, a Soufun analyst.