Our reporter Wang Lixin

　　On October 31, Jinan completed the third round of centralized land supply. All plots were sold at the reserve price, with a total transaction value of 5.648 billion yuan, and the overall popularity was low.

　　Not only Jinan, but from the perspective of the performance of the land market in 100 cities across the country, the overall heat needs to be heated up.

According to statistics from the Central Plains Real Estate Research Institute, in the first 10 months of this year, the 100 hotspot cities with the most land sales in the country totaled 2,587.31 billion yuan, a year-on-year decrease of 31%.

In terms of cities, the land sales in five cities including Hangzhou, Beijing, Shanghai, Chengdu and Nanjing all exceeded 100 billion yuan. In the same period last year, the land sales in 9 cities exceeded 100 billion yuan.

　　In addition, according to the monitoring of the Middle Finger Research Institute, from the results of various batches of soil auctions in 22 cities, the popularity of soil auctions in Hangzhou, Beijing, Shanghai, and Hefei is relatively stable, and enterprises are more motivated to participate in soil auctions. Sentiment is not high, and the bottom price transaction is the mainstream performance of the market, and the proportion of state-owned land acquisition in some cities continues to be high.

　　In this regard, Chen Wenjing, the market research director of the Index Division of the China Index Research Institute, told the "Securities Daily" reporter that since 2022, there has been no significant improvement in the downward trend of the real estate market and the pressure on housing companies' funds. The market continued to operate at low temperatures.

　　Zhang Dawei, chief analyst of Centaline Real Estate, also told reporters that, from the perspective of the land transaction amount in 100 cities, first, the amount of land sold in most cities has been significantly reduced; second, the land transfer policy in many cities has changed, and the number of centralized land supply has increased from three times. The third is that the land-acquisition real estate enterprises are still dominated by central enterprises, state-owned enterprises, local urban investment enterprises and some high-quality private real estate enterprises, and some real estate enterprises are difficult to obtain financing. Investment is very cautious.

　　"For developers, the end of the year is the peak period for capital withdrawal and project settlement. Sufficient cash flow is more conducive to the performance of the company's financial statements, so it will be relatively cautious to acquire land at the end of the year." Zhang Kaixiang, head of the Land Division of the China Index Research Institute "Securities Daily" reporter said so.

　　"Since this year, we have not acquired land, and we are mainly busy digesting projects for sale. The monthly sales target has not reached the set target, so there is no excess funds to buy land." A related person from a real estate company told the Securities Daily "The reporter said, in addition, from the perspective of the company's current reserve of land, it is enough for the next two or three years to develop, so it is not in a hurry to buy land.

　　From the perspective of the industry, the downturn in the sales market is the main reason for the lack of enthusiasm for housing companies to acquire land.

According to the latest statistics from the China Index Research Institute, from January to October 2022, the total sales of TOP100 real estate companies was 6,095.46 billion yuan, down 43.4% year-on-year, and the decline narrowed by 1.7 percentage points.

　　It is worth noting that various real estate companies have different attitudes towards the performance of the next sales market and investment expectations for land acquisition.

Judging from the results of the interview with the "Securities Daily" reporter, high-quality housing companies maintain a cautious and optimistic attitude, believing that the sales market will pick up.

On the other hand, housing companies that are at risk or that have already taken risks said that they are under great pressure, and their sales are hard to see improvement. They no longer have plans to acquire land for investment, and need to survive short-term liquidity difficulties.

　　So, with the changes in the sales market, what will happen to the land market next?

　　"For real estate companies, more companies are inclined to 'determine investment based on sales', and their investment layout is more cautious." Chen Wenjing said that in the short term, in order to stabilize the land market, local governments are expected to continue to increase the proportion of high-quality land supply. The conditions for land sale are relaxed, and there is also an expectation that land prices in cities with poor market conditions will be lowered.

On the whole, the recovery of the land auction market still depends on the substantial recovery of the real estate transaction market.

(Securities Daily)