popular land parcels fetched high premiums, igniting a "spark" for a booming real estate market
2024-10-01
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major policies for the real estate market are coming out frequently, and the land market has opened a "warm-up mode" for the real estate market.
since september, land markets in chengdu, guangzhou, shenzhen and other cities have seen high-premium land parcels. the premium rate of land parcels in chengdu even exceeded 80%. there are also land parcels that have set a new floor price record in chengdu. the land auction market has begun. there is a "spark" trend.
some people believe that an improvement in the land market will be beneficial to boosting confidence in the real estate market from the source, and the government also hopes that the sale of some star land parcels can drive enthusiasm in the entire market. this is in line with the fact that the real estate industry has lowered the minimum down payment in the past two days. the logic of policies such as adjusting existing mortgage interest rates and relaxing purchase restrictions in cities such as guangzhou and shenzhen is consistent.
the highest premium rate exceeds 80%
on september 29, fierce competition for tens of billions of land parcels in guangzhou aroused market attention. the land is the nanfang flour mill land in tianhe district, guangzhou city (plot no. at080722). after 5 hours and 148 rounds of bidding, it was finally sold to poly development for 11.76 billion yuan. the transaction price was 67,000 yuan/ square meters, with a premium rate of 33.4%, making it the second highest land auction land in guangzhou.
the land is located north of linjiang avenue and south of yuancun. it was the land formerly used by nanfang flour mill and yuancun grain group. the plot is in a good location, adjacent to the east district of zhujiang new town and the west district of the financial city cbd. opposite is pazhou and the canton fair complex. the scarce view of the river on the south side has attracted four developers, including poly, china overseas, yuexiu and pengrui, to sign up for the auction.
chen xueqiang, research director of the guangzhou branch of the china index research institute, said that this land is the only land in guangzhou that can expand the proportion of balconies to 30%, which is higher than the current new regulation of 20%, which means that the practicality rate of projects built on this land it is possible to exceed 130%. at the same time, the public open space above the second floor can be expanded to 10% regardless of the building area. by then, the land will create a unique luxury product project.
in addition to guangzhou, the land auction markets in chengdu and shenzhen have also been booming in the past few days. the floor price of a plot of land in chengdu's tianfu new district has set a new historical record.
on the afternoon of september 26, the residential land with parcel number a001-0219 in xin'an street, bao'an district, shenzhen was officially sold, attracting investors including oct, china merchants shekou, greentown china, poly real estate, china resources land, china railway + energy construction, hisense, yuexiu, nine real estate companies from china overseas real estate participated in the bidding. after 82 rounds of bidding, the land was won by poly real estate for 2.82 billion yuan.
this is the first land sale since shenzhen changed the previous "price limit + lottery" land auction rules and implemented the "higher bidder gets" transfer model. it is worth noting that the transaction floor price of the land reached 52,000 yuan/square meter, with a premium rate of 35.58%, changing shenzhen's previous practice of a maximum premium rate of 15% for land auctions.
a person from a real estate company who participated in the bidding for the land told china business news that the reason why shenzhen changed its previous practice of a maximum premium rate of 15% was because it wanted to boost the downturn by increasing the land auction premium rate and land transfer prices. the land auction market has raised house price expectations.
it is worth noting that the floor price of this land is 10,000 yuan/square meter higher than the adjacent land "china railway nengjian yuezhen mansion" sold last year. a person from a real estate company who participated in the bidding of the xin'an street plot in bao'an district told china business news that under the current overall low sales rate of the property market, the sales rate of the "china railway energy construction yuezhen mansion" project adjacent to the above-mentioned plot is outperforming the industry level, the floor price of 52,000 yuan/square meter is relatively expensive, but for real estate companies that acquire land, there is still a certain profit margin and they will not suffer losses, and the land for sale does not stipulate the maximum limit for commercial housing. selling price, real estate companies have more room to adjust prices.
on september 20, the auction of a 24-acre plot of land in the third phase of chengdu financial city attracted the participation of more than ten real estate companies such as jinmao, china merchants, greentown, and shell. after 82 rounds of bidding, beihaojia finally won the transaction. the floor price was 27,000 yuan/square meter, with a premium rate of 42.19%, once again breaking the floor price record in chengdu.
it is reported that the above-mentioned "24 acres of land" is the second residential land auction after the regional regulation adjustment of chengdu financial city phase iii. it is also the first residential land auctioned by chengdu financial city phase iii after the "double land limit" was cancelled. it is worth noting that the first residential land in the third phase of the financial city was sold in june last year. it was a "double-limited land" and was won by china resources land. the floor price was 21,000 yuan/square meter, and the clear water house price limit was 36,000 yuan. yuan/square meter. in the first half of this year, the first residential land in financial city was put on the market. the property name is "financial city·jinchen mansion". the average total price of each unit exceeds 10 million yuan, and it was quickly sold out in both openings.
the sichuan branch of the china index research institute stated that judging from the entry of residential land projects in the same sector into the market, the above-mentioned "24 acres" land parcel in chengdu is sufficiently scarce and was sold at a high premium, which is a normal perception in the industry. at the same time, the land parcel is in chengdu. the land parcels were sold after the "chengdu urban planning management technical regulations (2024)" was released on june 20, so the project has greater room for product creation.
in addition to the above-mentioned land parcels with record-breaking floor prices, the sale of the "37-acre land parcel in luhu" in the central urban area of chengdu on september 27 also attracted market attention. the land attracted 10 companies to participate in the auction, with more than 100 rounds of bidding. finally, it was won by rundafeng binjiang, a sichuan private enterprise. the floor price was 24,000 yuan/square meter, ranking third in chengdu’s floor price record, and the premium rate was even higher. it is 86.9%. it is reported that this land is the first land supply in tianfu new district after a lapse of nine months. it is also the first land to enter the market after the implementation of the "regulations on park city planning management innovation in directly administered areas of sichuan tianfu new district (2024)".
"the other side of the coin"
although there are "sparks" in the land market, looking at the entire market, it is still in a cooling-off cycle.
on september 19, the residential land in xihongmendong group, daxing district, beijing was sold, and xingchuang real estate won it at a reserve price of 2.225 billion. it is worth noting that the average transaction price of the residential part of this land is about 36,200 yuan/square meter, while 1 to 2 years ago, when the oak bay phase iii and china construction jiuyue mansion land plots in the same area were sold, they were sold for 15 % top price premium, the average floor price is about 41,000/square meter. in contrast, the floor price of the recently sold xihongmen east plot has dropped by about 4,800 yuan/square meter.
a recent land auction in hangzhou demonstrated the rationality of real estate companies in acquiring land and the differentiation of the land market. specifically, on september 30, hangzhou sold two residential plots, both of which were scarce low-density plots with a floor area ratio of 1.1 to 1.2. however, the real estate companies participating in the auction were mainly concentrated on the dingqiao plot. after 27 rounds of bidding, the dingqiao land parcel was finally acquired by tianyang real estate at a premium of 20.5%, while the qiaosi land parcel in linping district was acquired by yingguan holdings at the lowest price.
senior vice president of the east china region of the china index research institute said that the dingqiao land parcel is the first low-density land parcel with no price limit in shangcheng district. it is located on the north side of dingqiao taohua lake park, about 700 meters away from the taohua lake park subway station. longhu tianjie is about 800 meters away and has complete living facilities. the starting auction price of this land is 2,631 yuan/square meter lower than that of the jinmao mansion land in the same sector. the superimposed sales price of commercial housing is not limited, giving real estate companies greater room for trading.
"the qiaosi plot is constrained by the traffic speed, and real estate companies are not enthusiastic enough to compete." gaoyuan students said that the low-density real estate "baoyiqin dongrunfu" for sale around the qiaosi plot has an average monthly transaction volume of only 12 units, and the traffic speed performance is average. , the location and supporting facilities of the above-mentioned qiaosi plot are weaker than those of the "baoyiqin dongrun mansion" on sale. therefore, although the starting price of the qiaosi plot has been reduced, real estate companies are still rational and cautious.
li yujia, a researcher at the guangdong provincial housing policy research center, believes that the premium rates of land auctions for many land parcels have been relatively high recently. on the one hand, the confidence of developers has increased after the national level proposed policies to stabilize the real estate industry; on the other hand, local governments have made concessions to developers in land auctions, such as canceling the "7090" policy and increasing the proportion of semi-open spaces. at the same time, most of the high-premium land parcels meet the location and supporting conditions required for high-end improved commercial housing. , and there is currently a lot of demand for high-end improved housing in the market.
li yujia said that the improvement in the land market will be beneficial to boosting confidence in the real estate market from the source. this is in line with the real estate industry's reduction in the minimum down payment ratio, adjustment of existing mortgage interest rates, and the relaxation of purchase restrictions and other policies in cities such as guangzhou and shenzhen in the past two days. the logic is consistent.
at the same time, li yujia also said that overall, land parcels with high premium rates are only isolated, because land parcels with high premium rates often have some common characteristics, that is, they are located in the central area of the city, the area planning level is very high, and the surrounding areas the supporting facilities are complete, but such high-quality plots are rare. most of the plots currently on the market are ordinary plots, and it is difficult to get a good transfer. in fact, since 2022, a few star land parcels have become popular, and most land parcels have been cold. these are two main situations in the land market. this situation may continue for some time.
meng xinxin, an analyst at the china index research institute, believes that the shrinkage trend of the national land market has not changed in 2024, and real estate companies are still cautious in acquiring land. only the core sectors of hot cities maintain a certain degree of popularity. new policies have been coming out frequently recently. on september 24, the three financial departments took the lead in proposing a number of real estate support policies. subsequently, the political bureau of the central committee rarely met at the end of september to study the economic situation and proposed for the first time "to promote the real estate market to stop falling and stabilize", releasing the strongest signal to date to “stabilize real estate” has injected confidence into the market. judging from the recent land auctions, some land parcels in chengdu and guangzhou have become more popular. however, in contrast, land in nanjing and suzhou are sold at reserve prices.
meng xinxin said that overall, the current land auction environment continues to be relaxed, and the release of the new deal has restored the market expectations of real estate companies to a certain extent, but it is more reflected in hot cities or high-quality sectors, and it will take time for the national land market to warm up.
(this article comes from china business news)
