Looking at the land market in the first half of the year, although the first quarter was affected by the new coronary pneumonia epidemic, housing companies were cautious in taking land. However, in the second quarter, when supply and demand were booming, housing companies also started a "grabbing land" model. From the data of the sales ratio of land acquisition, it can be seen that the second camp housing companies are more urgent for scale growth, but the first camp housing companies are more conservative.

  From the current point of view, although the epidemic has a great impact on the funds of housing companies, under the effect of policies such as the reduction of interest rates and interest rates, the funds of housing companies are still loose. In the first half of the year, land grants in more than 50 cities exceeded 2.29 trillion, with 4 cities exceeding 100 billion. In the industry's view, the future increase in land supply will become a consensus, but competition between housing companies may be expected to slow down, especially in third- and fourth-tier cities.

  4 cities sold more than 100 billion yuan, and the Yangtze River Delta is hot

  Statistics from the Central Plains Real Estate Research Center show that in the first half of this year, land transfer fees in 50 major cities totaled 2.29 trillion, up 17.3% year-on-year. Among the 50 largest cities, the amount of land sold in as many as 33 cities increased year-on-year. 38 cities sold more than 20 billion yuan, setting a new historical record.

  Among the 50 largest cities, there have been four cities that sold 100 billion yuan for half a year for the first time. Among them, Hangzhou is far ahead, with land sales amounting to 181.4 billion yuan. In addition, Shanghai, Beijing, and Guangzhou are 134.3 billion, 114.3 billion, and 104.9 billion, respectively.

  Land supply in first-tier cities is limited, and second-tier cities have always been the focus of housing companies' storage and storage. According to data from the Middle Finger Research Institute, 50 representative housing companies accounted for 51.5% of land in second-tier cities in the first half of the year, while first-tier cities accounted for only 4.5%.

  From a regional perspective, housing companies are more inclined to acquire land in the five major urban agglomerations of Beijing-Tianjin-Hebei, Guangdong-Hong Kong-Macao Greater Bay Area, the Yangtze River Delta, the middle reaches of the Yangtze River, and Chengdu-Chongqing, accounting for 58.6% of the total. Among them, the Yangtze River Delta has the highest heat, approaching 30%, followed by the Guangdong-Hong Kong-Macao Greater Bay Area and the middle reaches of the Yangtze River, accounting for 9.2% and 9.1%, respectively.

  It is worth noting that Hongkong Land won the Shanghai Xuhui District land parcel for 31.1 billion yuan in February this year, setting a new record for the country's total land price. With this land parcel, it won the first half of the Yangtze River Delta land parcel. The winner of the Yangtze River Delta's land acquisition amount is Binjiang Group, with a total amount of 35.3 billion yuan.

  In fact, for the reasons of the nationwide strategic layout, many housing companies have made efforts in many cities. For example, Greentown China has appeared in the top ten list of the three cities in the first half of the year. Gemdale's core city in the Yangtze River Delta has become the champion in Nanjing and the runner-up in Shanghai.

  In addition, Hesheng Chuangzhan became the champion of Beijing's total land acquisition in the first half of the year with 18 billion yuan, more than double the amount of the first land acquisition of the “Beijing Landlord”.

  More than half of the housing companies did not lose the land last year, the top ten housing companies were the most conservative

  As we all know, affected by the new coronary pneumonia epidemic in the first quarter, housing companies are cautious in taking land. However, with the steady outbreak of the epidemic, since April, real estate companies have significantly improved their land acquisition efforts. Although they experienced a pullback in May, the scale of real estate companies' land acquisition in June was still at a high level in the first half of the year.

  According to data from the Central Index Research Institute, the average monthly land acquisition of 50 housing companies in the first half of the year was 171.63 billion yuan, slightly higher than the monthly average of 2019. Some real estate companies have taken advantage of land to expand their reserves, such as Aoyuan, Longguang, and Shoukai. In the first six months, the average monthly land acquisition amount has more than doubled from last year. More than half of the real estate companies did not lose their land last year, but there were also 23 real estate companies whose monthly average land value in the first half of the year was lower than last year. Among them, Vanke's monthly average land value decreased by more than 60% compared with last year.

  The enthusiasm of real estate companies for land acquisition can be seen from the ratio of land sales. According to the data from the Central Index Research Institute, the heat gain of housing companies in the first half of the year has picked up slightly, and the sales ratio of 50 housing companies has been 38.3%, which is higher than the 2019 level. The top ten real estate companies continue to lead in scale, with sufficient land reserves and more stable development. The land acquisition intensity is the most conservative, and the land sales ratio is only 28.4%.

  According to the data from the Central Index Research Institute, in addition to the top ten housing companies, companies in other camps still have strong demand for scale growth, especially TOP11-20 housing companies have the most active investment, with a land sales ratio of 55.2%, the highest among all camps. Among them, Greentown's land sales ratio exceeded 100%, and Xuhui approached 70%. TOP21-30 real estate sales ratio is also significantly higher than the average, reaching 49.1%, Binjiang and Blu-ray development are higher than 80%.

  It is worth noting that in the first half of the year, increasing land reserves through mergers and acquisitions is still the choice of many housing companies. In March, Jinmao acquired a 100% equity of Wuhan Chemical Capital, a subsidiary of Sinochem Group, for 6.85 billion yuan, and acquired three assets in Qingdao, Tianjin and Wuhan. Since April, Greentown has initiated three acquisitions from Xinhu Zhongbao for 4.1 billion yuan, acquiring multiple projects in Shanghai, Shenyang, and Nantong. Although there are many opportunities to acquire land in the auction market, mergers and acquisitions are still one of the current sources of land for housing companies, and land acquired in this way is often more advantageous in terms of price.

  There were 3 ten billion plots, and the land premium rate was higher

  In the first half of the year, the total price of a single piece of land showed a trend of rising. There have been 3 cases of single plots with a total price exceeding 10 billion yuan, which is not unusual in the past.

  In February, the Hong Kong Land Consortium won the Shanghai Xuhui Binjiang West Bank Financial Port site at a price of 31.05 billion, successfully breaking the record of total land prices in mainland China. In April, a plot in Xiamen’s Siming District was acquired by Shanghai Taiming Trade for 10.4 billion yuan, and the market rumored that the land-holding enterprise was Zhongjun’s “vest”. In May, Longguang Real Estate won a residential plot in Shenzhen Qianhai for 11.597 billion yuan.

  In this regard, Zhang Dawei, the chief analyst of Zhongyuan Real Estate, analyzed that there have been 3 plots with a high total price of RMB 10 billion during the year, and there are 30 plots with a turnover of more than RMB 5 billion. This shows that the loose capital of the enterprise has obviously appeared. In fact, under the influence of policies such as RRR cuts and interest rate cuts, housing companies' enthusiasm for land acquisition has gradually increased, resulting in the recurrence of land transactions with high premium rates in many places.

  However, Zhang Dawei said that the overall land market price has not yet risen in an all-round way, but the prices of some land in some cities have reached historical highs.

  Regarding the trend of land prices, according to data from the E-House Research Institute, from June, the land premium rate in 40 typical cities was 15.7%, up 2.3% from the previous month. The top five cities with the highest premium rates are Xuzhou, Foshan, Nanning, Beihai and Fuzhou, with land transaction premium rates of 61%, 43%, 40%, 35% and 31%, respectively.

  Regarding the trend of the land market in the second half of the year, Wang Ruochen, a researcher at the E-House Research Institute, believes that the epidemic has a greater impact on the economy and local government fiscal revenue is also greatly affected. At present, land transfer fees are an important part of fiscal revenue, making local governments The government has a strong incentive to sell land, and the increase in land supply also helps ease the supply and demand relationship in the city. Although the increase in land supply has become a consensus, in the opinion of some industry insiders, competition among housing companies may be expected to slow down, especially in third- and fourth-tier cities.

  Beijing News reporter Yuan Xiuli