Zhongxin Finance, April 26 (Zuo Yukun) The temperature is gradually rising, and the first round of centralized land supply in 2022 is more than halfway through.

  In the second year of the new model of "two-concentration" land supply, the land market was calm and stabilized at the end of last year, and the favorable policies of the real estate market continued to be released.

How hot is the land market auction this year?

What new features have appeared?

Data map: Real estate properties under construction.

Photo by China News Agency reporter Zhang Bin

Land supply batches increase and scale shrinks

  The centralized land supply in 2022 will start earlier than in 2021.

  Since the "two-concentration" policy in 2021 was released at the end of February, the first batch of land supply will be mainly concentrated in March and April.

In contrast, many cities started earlier this year.

  It was Beijing that took the lead.

On January 7, Beijing listed the first batch of land for centralized land supply in 2022; on February 17, the first round of centralized land supply in Beijing came to an end, and 17 of the 18 land parcels were sold, with a total investment of 48.0255 billion yuan. .

  Along with the advance of the first round of batches, is the change in the rhythm of land supply in multiple places.

Unlike the unified "land sales only three times a year" in 2021, the land supply in some cities has increased from three batches to four batches this year.

Qingdao, Wuhan, Xiamen, Chongqing and Jinan have all made clear their annual land supply plans to supply land in four batches.

  "The advance of the first batch is conducive to rationally arranging the land supply plan and avoiding the big fluctuations in market supply and demand. The increase in the number of land supply batches reduces the pressure on land supply in each batch, which facilitates the flexible response of real estate companies and is conducive to the stability of the land market." express.

  The increase in batches has also triggered a dispersion of supply area.

The scale of the first batch of centralized land supply in most cities this year has been significantly reduced compared with the first batch of last year. Beijing, Qingdao, Chongqing, Changsha and other places have reduced their scale by more than half, and Wuhan's year-on-year reduction is even more than 90%.

  "This reflects that the current market is still in a recovery period, and when the sentiment of the property market has not yet fully improved, the centralized land supply is also in a cautious state." Guan Rongxue, an analyst at the Zhuge Housing Data Research Center, believes that the reduction in the supply scale has become the first round of centralized land supply this year. The general situation of land supply may be related to the increase of supply batches in many places. As the number of cities that carry out land supply plans gradually increases, the supply scale is expected to show a steady upward trend.

  However, while the supply scale is shrinking, the volume of high-quality land is increasing, and the multi-city land supply is concentrated in the areas with relatively mature supporting facilities in the main urban area. Among them, the proportion of land supply in the main urban areas of Changsha, Wuhan and Chongqing has increased by more than 15%. .

Data map: A commercial residential building in the city center.

Photo by Sun Rui

Lowering the threshold and improving soil auction rules

  Although the first round of soil auctions has an obvious meaning, the improvement of the rules on the land supply side has shown sincerity. Lowering the threshold, increasing profits, lottery and lottery have basically become standard.

  First of all, the development qualifications of real estate enterprises in some cities have been relaxed, and the entry threshold has been further lowered.

Part of the land for centralized land supply in Beijing in 2021 involves the "pre-qualification link", which is no longer required in the 2022 transfer process; Hefei's relaxation of the development qualifications of bidders is more obvious, and the development qualifications of bidding companies are reduced from first-level development qualifications to Second-level development qualification, some plots do not set requirements for the development qualification of bidding enterprises.

  Lowering the margin ratio is also an option for many cities.

The land transfer margin ratio in Wuhan has been reduced from the highest 50% to 20%, and Nanjing has been reduced from 30% to 20%. At the same time, the payment period for some land parcels has also been extended to 6 months or even longer.

  A more prominent feature is that almost all cities have tacitly abandoned the previous model of "competition for self-sustainability and competition for construction", especially for affordable housing.

  In recent years, local governments have successively adopted a series of land price stabilization policies such as “competition for self-sustainability and competition for construction” in response to excessive land prices. These intensive control policies have indeed caused the overall heat of the land market to subside. The phenomenon is under control.

  However, this year, in order to wake up the market, the requirements for construction in various places have been reduced, and the profit margins of real estate companies have further increased.

Wuhan and Xiamen canceled the requirement for supporting "affordable housing", Qingdao and Chengdu canceled the requirement for supporting "talented housing", and the proportion of construction land with affordable housing in Beijing dropped from 33% to 22%.

  "The purpose of this is very clear, to reduce the pressure on real estate companies to acquire land as much as possible, to increase the enthusiasm of real estate companies to participate in the auction, and to effectively protect the reasonable profits of real estate companies and maintain the development of the real estate market." The Middle Finger Research Institute said.

Data map: A residential building in Hangzhou.

Photo by Guo Qiyu

The heat is clearly differentiated, and state-owned enterprises are still the main force

  Although this year's land auctions have frequently shown good sentiments to real estate companies in terms of land quality and bidding rules, judging from the transaction situation, real estate companies are still cautious in acquiring land.

Reflected in terms of market heat, the heat difference between cities is obvious.

  In the first round of centralized land supply, Hefei's performance was quite outstanding. The auction of high-quality land plots was very hot, and 15 of the 19 land plots reached the maximum price and entered the stage of bidding for high-quality residential plans.

Zhang Bo, director of the branch of 58 Anju Room Property Research Institute, pointed out that the popularity of this centralized land supply in Hefei is mainly due to the sincerity of the Hefei Municipal Government in this land transfer.

  Hangzhou, which had just completed the first round of land supply on April 25, also performed well, with 82.7 billion in gold.

Only 1 of the 60 parcels of land was passed in, and 23 of the 59 parcels of land that were sold hit the top lottery.

  However, the popularity of land auctions in some cities with large inventories or the market is in a period of adjustment remains low.

Tianjin, Fuzhou, Xiamen, Wuhan, Chengdu, Nanjing, Dongguan and other cities are generally not very popular, and there have been large-scale transactions at the reserve price, failed auctions or termination of transfers.

  Even within the same city, the differentiation of transaction heat is quite obvious.

A senior student from the executive vice president of the Zhejiang Branch of the China Index Research Institute pointed out that, taking Hangzhou as an example, one of the land for this time was swayed. Lin'an, Fuyang, and the suburbs of Xiaoshan and other areas with relatively weak detoxification capabilities; 23 cases reached the cap and entered the one-off quotation link, mainly in the Olympic Sports, Sandun, Ningwei, Liangzhu, Beibei New Town, Future Science and Technology City and other popular areas Core board.

  According to the Middle Finger Research Institute, judging from the results of taking the lead in completing the first round of land auctions, real estate companies clearly tend to acquire land in the three categories of "traditional high-value", "good planning" and "high detoxification efficiency".

  There are also real estate companies that have acquired land that have also exposed the unevenness of cold and heat.

In this year's centralized land supply transactions, central state-owned enterprises are still the main ones who have the strength to participate in the competition.

  "From the perspective of the recent mentality of real estate companies, it is more reflected in preventing the emergence of debt risks and actively promoting the stability of corporate funds." Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, believes that the performance of the land auction market this time, It also shows that there are still differences or divergences between the markets.

  "Judging from the transaction situation, real estate companies are still cautious in acquiring land, and with the current repeated epidemics in many places, there is still great uncertainty in market expectations. There may be limited room for improvement in the overall market popularity." The Middle Finger Research Institute believes.