Land auctions in key cities ushered in a peak.
According to statistics from a brokerage China reporter, from September 23 to 29, in just 6 days, 7 cities "get together" to complete the third round of concentrated soil auctions this year, including Beijing, Shanghai, and Shenzhen, three first-tier cities.
As of September 29, 11 cities including Beijing, Shanghai, Shenzhen, Hangzhou, Suzhou, Wuhan, Qingdao, Xiamen, Wuxi, Fuzhou, and Ningbo have completed the third round of concentrated soil auctions.
According to the results of transactions in various cities, the Chinese reporters of the brokerage companies have shown that the popularity of soil auctions between cities is uneven, and the differentiation within cities is also obvious. Except for Beijing and Hangzhou, the popularity of soil auctions has increased slightly compared with the second round, and the popularity of most cities has declined; Except for Beijing and Ningbo, the average premium rate increased compared with the second round, all other cities have decreased, but the common feature of these cities is that the land acquisition enterprises are still mainly state-owned enterprises and local platform companies.
In addition, the willingness of private enterprises to acquire land in hot cities has picked up.
The industry insiders who were interviewed by a Chinese reporter from a brokerage firm believed that the current downward pressure on the property market is still high, and market investment confidence is relatively low. Affected by this, it is expected that the land auction popularity will continue to run at a low level in the fourth quarter, and the proportion of land acquisition by state-owned enterprises will further increase. the trend of.
The popularity of most cities has declined, and popular plots in hot cities are sought after
According to the results of local soil auctions, the third round of soil auctions in Beijing has warmed up slightly, Hangzhou has continued the popularity of the first two rounds, Ningbo and Fuzhou have remained stable, while Shenzhen, Shanghai, Suzhou, Wuhan, Qingdao, Wuxi, and Xiamen have declined in popularity.
According to statistics from the China Index Academy, among the 11 cities that have completed the third round of concentrated land auctions this year, the top three land transfer fees are Shanghai (105.38 billion yuan), Beijing (50.029 billion yuan) and Hangzhou. (43 billion yuan); the top three average premium rates are Beijing (6.06%), Hangzhou (5.13%), Ningbo (4.72%); except for Beijing and Ningbo, the average premium rate is higher than the second round. somewhat reduced.
Judging from Beijing, which has the highest premium rate, among the 18 parcels of land that were transacted, 10 were transacted at the reserve price, and 8 parcels of land were transacted at a premium. The average premium rate reached 6.06%, up 0.71 percentage points from the second round. The market has warmed up slightly. .
Among them, popular land plots such as Yongfeng in Haidian District and Zuojia Village in Fengtai District are fiercely competitive, with a premium rate of 15%.
Hangzhou, which is also eye-catching, has 8 of the 19 residential-related land transactions that reached the stop price and entered the "one-off offer" stage, accounting for 42.1%, an increase of 15.4 percentage points over the second round, and 2 were sold at a premium. , with an average premium rate of 5.13%, continuing the popularity of the first two rounds.
The Ningbo soil auction, which ended on September 29, had an average premium rate of 4.72%.
Among the 10 land parcels sold at a premium, 3 out of the 4 parcels sold at a premium price hit the top, and 9 real estate companies competed for the hottest land parcel. Finally, after 58 rounds of quotations, the upper limit price reached 3.071 billion yuan, and the bidding time exceeded two hours. It was won by Ningbo Dongtou Lottery.
Hot plots are still the main targets of real estate companies.
On the same day, the third round of land auctions in Fuzhou also ended smoothly, with 12.1 billion yuan for 15 residential lands. Among them, 11 lands in the four urban areas attracted 50 bidders to participate in the competition. The hottest old renovation project in Gulou District has 42 bidders participated in the bidding, and 40 real estate companies entered the lottery. In the end, Poly lottery won the lot.
As the city with the hottest land market this year, the third round of land auctions in Shenzhen has dropped significantly compared with the previous two rounds.
On September 28, 1 of the 7 residential plots was unsold. Among the remaining 6 land parcels, 4 were sold at the reserve price and 2 were sold at the upper limit of the land price. The overall premium rate was 3.94%, a significant decrease of 5.39 percentage points from the second round. .
Shanghai, which is also a first-tier city, although the gold collection reached a new high, the popularity has also declined compared with the previous round.
On September 27, the 35 residential land parcels received a total of 105.38 billion yuan, but as many as 24 land parcels were sold at the reserve price, accounting for nearly 70%.
In addition, 8 cases reached the stop price and entered the "one-time quotation" stage, which was lower than the previous round; the average premium rate was 2.27%, which was also lower than the previous round.
In addition, Qingdao, Wuhan, Suzhou, and Wuxi and Xiamen, which completed the third round of soil auctions at the end of August, have cooled down in the market.
Among them, among the 30 lands sold in Qingdao, only 1 reached the top and 1 sold at a premium, the remaining 28 were sold at the base price, and 3 were unsold; in Wuhan, under the background of many high-quality lands launched in the core area, still only One parcel of land hit the top lottery lottery, and the rest of the parcels were sold at the reserve price, and the average premium rate dropped to 0.1%; 5 of the 9 parcels in Suzhou were sold at a premium, with an average premium rate of 2.15%; all 11 residential land in Wuxi were sold at the reserve price; The 6 parcels of land in Xiamen were all sold at ultra-low premiums or reserve prices, with an average premium rate of only 0.2%, setting a new low since Xiamen concentrated land auctions.
Regarding the main reasons for the decline in the popularity of land auctions in most cities compared with the second round, Zhang Kai, head of the Land Business Department of the China Index Research Institute, said in an interview with a brokerage Chinese reporter that in addition to concerns about delayed delivery of off-plan properties, weaker expectations for housing price increases, and residents’ income expectations The pessimistic impact also includes that most of the third round of land supply this year will not be able to contribute to sales performance before the end of this year, so the enthusiasm of enterprises to acquire land has declined.
Not only is the popularity of soil auctions uneven between cities, but the popularity of various plates within the city is also significantly differentiated.
Yang Kewei, deputy general manager of Crane Research Center, said in an interview with a Chinese reporter from a brokerage firm that hot and cold differentiation has become a common feature of land auctions in various cities. The sectors that are difficult to dispose of the surrounding housing have to rely on local state-owned enterprises to support the bottom line or directly suffer from unsold auctions.
It can be seen that under the background of generally rising profit margins, real estate companies pay more attention to the sales expectations of projects when they acquire land.
"At present, the downward pressure on the property market is still great, and the market investment confidence is also relatively low. Affected by this, it is expected that the popularity of land auctions in the fourth quarter will continue to run at a low level." Yang Kewei told a Chinese reporter from a brokerage firm. The centralized land supply has become four batches, and the possibility of the “collision period” of urban land auctions in the next quarter is higher, which will lead to a more significant differentiation of soil auctions between cities and even between plots.
Local private enterprises in hot cities make efforts
Chinese reporters from brokerage companies have sorted out the land acquisition companies in the third round of concentrated land auctions. The common feature is that they are still dominated by state-owned enterprises and local platform companies.
This feature is prominent in first-tier cities. Taking the Shenzhen land auction that just concluded on September 28 as an example, 5 of the 6 land parcels were sold by state-owned enterprises.
Among them, Shenzhen Railway spent 6.04 billion yuan to win 3 cases, China Merchants Shekou and China Resources each won 1 case, and only 1 case was won by local private enterprises.
Although the final land acquisition companies are still mainly state-owned enterprises, judging from the registration situation of the third round of land auctions in Shenzhen, the participation of private enterprises is increasing.
According to the Shenzhen Bureau of Planning and Natural Resources, 27% of the private enterprises participated in the bidding in the third round of land auctions, and the willingness of private enterprises to participate in the bidding was relatively strong. More than half of the 9 enterprises participating in the lottery in Longhua District were private enterprises.
The main force in Beijing's land acquisition is also concentrated in the state-owned central enterprises. The competition for popular land parcels is mostly carried out among the state-owned central enterprises. Among them, China Shipping spent nearly 15 billion yuan to win three popular land parcels, becoming a major land acquirer in this round.
Among the 18 land parcels that were transacted, only 1 was won by the private enterprise Longfor, and the rest of the land acquisition companies were state-owned enterprises and local platform companies.
Among the 35 land parcels in Shanghai, 26 were acquired by state-owned enterprises and urban investment companies such as Poly and China Merchants, accounting for 74%.
In addition, Wuhan is backed by local state-owned assets, and the amount of land acquired by state-owned enterprises accounts for nearly 90% of the total transaction value; 22 of the 30 land parcels transacted in Qingdao have the participation of urban investment companies; Among the 15 plots, except one was won by Poly, most of the others were taken over by local state-owned enterprises.
It is worth noting that although the final land acquisition in cities such as Suzhou and Wuxi is dominated by local state-owned assets, the participation of local private enterprises has increased significantly.
Hangzhou has the highest participation rate of private enterprises. Among the 19 land parcels that were transacted, except for China Merchants Shekou, Poly, China Resources, and the underpinning Zhijiang Urban Investment and Hangzhou Metro, other land parcels were collected by local private enterprises in Hangzhou, accounting for more than 50%.
Among them, the two major local real estate companies in Hangzhou were active. Greentown won two land parcels with a total price of 8.09 billion yuan, and Binjiang won three popular land parcels with a total price of 6.91 billion yuan.
Local small and medium-sized private enterprises are also more active, and Kunhe, Zhonghao, Sennics, and Jieli have all acquired land.
Zhang Kai believes that state-owned enterprises are more adaptable to the adjustment of soil auction rules. At the same time, thanks to the fact that some previous projects have achieved expectations, state-owned enterprises have taken the lead in actively acquiring land, and the proportion of state-owned enterprises acquiring land in the third round of concentrated soil auctions has increased rising trend.