"Uneven hot and cold" land auctions in various places: dozens of real estate enterprises in core cities are grabbing land

Land auctions are "uneven in heat and cold": dozens of real estate enterprises in core cities grab land, and most non-core areas are sold at reserve prices

52 real estate enterprises poured into Chengdu, and the number of real estate enterprises participating in the auction of a land plot in Hangzhou reached a record high... Recently, many hot spots in Shanghai, Hangzhou and Chengdu have carried out centralized land supply, and the supply of high-quality land has driven the enthusiasm of real estate enterprises to recover land acquisition, but the phenomenon of "uneven hot and cold" land auctions in different cities is still obvious.

According to data from the China Index Research Institute, as of April 2023, a total of 22 residential land in 2023 cities were launched, with a planned construction area of 4.27 million square meters, down 22.271% from the same period last year, and the trend of shrinkage has not changed.

The land auction market is differentiated, and the "uneven hot and cold" in different cities is still obvious

According to data from the China Index Research Institute, in April this year, 4 of the 22 key cities in the country listed more than 11 cases of homestead sale. Among them, 80 cities are the first batch of centralized transfers: 6 cases in Guangzhou, 6 cases in Qingdao, 2 cases in Changsha, 8 cases in Shanghai, 19 cases in Wuxi and 6 cases in Jinan. Other cities such as Hefei sold 6 plots in the second batch this year, Hangzhou sold 11 plots in the third batch this year, and 12 in Chengdu, 6 in Tianjin and 5 in Beijing.

In this round of land auctions, Shanghai launched 19 residential land at one time, with a total amount of nearly 519.7 billion yuan, with an average premium rate of about 3.50%, and the head real estate enterprises returned to actively replenish their positions, attracting more than 370 real estate enterprises to bid, the most in the past six years. In addition, the three core cities of the Yangtze River Delta, Hangzhou, Hefei and Wuxi, have also completed a cumulative transaction amount of nearly 12 billion yuan in this round of centralized land supply, and all 50 land plots in Hangzhou were sold in only 60 minutes, and the total number of participating real estate enterprises in Hefei land auction exceeded <>.

However, the "uneven heat and cold" in different cities is still obvious, and "differentiation" is still the keyword in the land auction market.

Meng Xinxin mentioned that since 2023, with the marginal improvement of economic expectations and the further effectiveness of real estate policies, the sentiment of land auctions in core cities has warmed up, but the differentiation between cities and plates is still obvious.

According to data from the China Index Research Institute, as of April 4, the upper limit of land prices of land plots in 27 cities accounted for 22%, and the proportion of reserve price transactions accounted for 47%. Specifically, the upper limit of land prices in Beijing, Shanghai, Hangzhou and Hefei accounted for more than 45%, of which the Beijing Zhuxinzhuang plot attracted 42 real estate enterprises to participate in the auction registration, setting a record for the number of enterprises participating in the auction of Beijing land plots; A total of 2023 real estate enterprises participated in the lottery in Lot No. 4 of Hangzhou Zhengchuan [60], setting a new high for the number of housing enterprises registered for a single plot in the past two years; On April 4, 18 enterprises signed up in the soil auction in Chengdu, and 52 of the 35 mu plots in Jinsha in Qingyang District entered the lottery; Vanke, China Resources and China Overseas returned to the auction market after three years, and more than 35 land plots participated in on-site bidding, and 10% of the land plots reached the upper limit. The competition for land in the core plates of Suzhou, Ningbo, Nanjing, Changsha and Qingdao is fierce, and the bidding is up to the upper limit of the land price, while the land in the non-core area is sold at multiple reserve prices, and the differentiation between the plates is obvious.

According to the CREIS tracking statistics of the China Index data, from January to April, the land auction market in non-core first- and second-tier cities was still dominated by reserve price transactions, such as Zhengzhou launched 1 land plots in the first round of land auctions, of which 4 were sold at reserve price; Changchun launched 11 land parcels, of which 10 were sold at reserve price. The three homesteads sold by Tianjin on April 8 were also sold at reserve prices.

The industry believes that the current market heat is limited to some high-level cities, some urban land markets are still adjusting channels, and it is still difficult to recover from the weak real estate market in third- and fourth-tier cities.

Private enterprises' willingness to acquire land has increased, and central enterprises and state-owned enterprises are still the "protagonists" of land auction

On the other hand, from the perspective of land acquisition real estate enterprises, central state-owned enterprises are still the protagonists of land auctions, but the proportion of land acquisition by private enterprises in some cities has increased.

Taking the first round of land auctions in Shanghai as an example, although nearly 50 of the more than 20 enterprises participating in the auction were private enterprises, 19 of the 14 land plots were won by state-owned enterprises and local state-owned assets. In addition, as of the end of April, the amount of land acquired by central state-owned enterprises in Beijing in 4 accounted for nearly 2023%, and the overall strength of private enterprises to acquire land is still at a low level.

According to the data provided by the China Index Research Institute, in 2022, of the cumulative land acquisition amount of 22 cities centralized land supply, central state-owned enterprises accounted for 37%, local state-owned assets accounted for 42%, and private enterprises accounted for only 16%, and central enterprises, state-owned enterprises and local state-owned assets were the main forces in land acquisition. Since 2023, among the 22 cities that have completed transactions, Beijing, Shanghai, Suzhou and Zhengzhou still use central state-owned enterprises and local state-owned assets as the main force for land acquisition, of which Zhengzhou's local state-owned assets account for 2022%. For example, the proportion of land acquired by private enterprises in Hangzhou, Nanjing, Chengdu and Ningbo has increased, such as the proportion of land taken by private enterprises in Hangzhou is more than 3%, an increase of 9.<> percentage points over <>, of which Binjiang is still the main force of private enterprises to take land; the proportion of land taken by private enterprises in Nanjing land auction has also increased, and private enterprises such as Weixing and Xinyuan Real Estate have bid to the upper limit of land price to pick land plots; Chengdu is more of a local private enterprise, such as Chengyi Investment, Sichuan Bangtai Real Estate, Leshan Haitian, Jiahe Xing and so on.

At the same time, it is worth noting that under the heating up of the market, the rules for land auction for two land plots in Beijing have been upgraded and the bidding rules have been tightened. Beijing's new rules require that the scope of enterprises banned from auction be traced up from "the same enterprise and its holding companies" to "member enterprises of the same group", which is conducive to promoting fair competition in the market.

The industry pointed out that since 2023, the sentiment of Beijing land auction has been relatively high, especially the Zhuxinzhuang land plot that was sold on March 3 set a new high in the number of land auction enterprises, attracting 23 real estate enterprises to participate in the lottery, some of which are not the same enterprise, but belong to the same group upwards, which to a certain extent increases the winning rate of the land lottery. The adjustment of the rules is conducive to maintaining the trading principle of "fair, open and just" in the land auction market.

According to the "National Top 2023 Real Estate Enterprises Land Acquisition Ranking from January to April 1" released by the China Index Research Institute, from January to April 4, the total land acquisition of TOP100 enterprises was 2023.1 billion yuan, and the scale of land acquisition decreased by 4.100% year-on-year, and the decline continued to narrow. The threshold value of the TOP3150 is 1 billion yuan, which is a significant decrease from 13.1 billion yuan in the same period of the previous year. The total amount of land acquired by TOP100 enterprises in the 10 cities in the country accounted for 42.100%.

From the perspective of new goods value, China Resources Land, C&D Real Estate and Vanke occupy the top three on the list. From January to April 2023, China Resources Land occupied the first place in the list with a cumulative new value of 1.4 billion yuan; C&D Real Estate and Vanke followed closely behind, with a cumulative new value of 503.418 billion yuan and 337.10 billion yuan respectively. The total new value of TOP2023 enterprises from January to April 1 was 4.3152 billion yuan, accounting for 100.33% of TOP4 enterprises, and the threshold for new goods value was 38.<> billion yuan. (Surging News Reporter Ji Simin)