Beijing took the lead in opening the first round of centralized land transfers in 2022.
On February 16 and 17, 17 of the 18 lands sold by Beijing in this round were finally sold, with a transaction price of 48 billion yuan and an overall premium rate of 4.5%. One parcel of land was passed in because the bidder did not make an offer.
These 18 parcels of land have attracted a total of 22 real estate enterprises (the real estate enterprises participating in parcels are not counted repeatedly) and the consortium to participate in the on-site bidding. State-owned enterprises and central enterprises are still buying landmain forceand ultimately a big land taker.
Industry insiders believe that the overall land location of this round of centralized land supply is good, some of the land plots are scarce land plots, housing companies with relatively good capital status are more enthusiastic to participate, and the land plots acquired at the beginning of the year have the opportunity to form sales reserves this year. Value is also one of the important factors in this round of land auctions that real estate companies are concerned about. Compared with the last two rounds of centralized land supply last year, the first round of land auctions this year shows obvious signs of recovery in the land market.
Central state-owned enterprises are still big land acquirers
On February 16, Beijing took the lead in opening the first round of centralized land sales in 2022. A total of 9 residential plots were sold that day. Except for one plot in Shunyi District, which was sold at a premium, the remaining 8 plots were sold at the base price. Another 1 parcel of land was finally passed in because the bidder did not make an offer.
On February 17, Beijing continued to sell 8 residential plots, including two popular plots. So far, 17 of 18 lands have been traded, with a total transaction value of 48.02 billion yuan.
In this round of soil auctions, the hottest is Changping DistrictZhongguancunFor the life science park plot, a total of 10 real estate companies and consortia participated in the on-site bidding, including CCCC, Urban Construction, C&D, China Shipping, Gemdale + Poly + Construction, China Resources, Greentown, Yuexiu, Power Construction,Joy. In the end, C&D won the land for 2.715 billion yuan, a premium rate of 15%.
Another interesting plot is the Cuigezhuang plot in Chaoyang. A total of 8 real estate companies have signed up, including Shoukai, C&D, China Shipping, Greentown, Urban Construction, China Resources, Poly + Gemdale, and China Construction Zhidi. In the end, Greentown won the land with 4.347 billion yuan + on-site bidding for the sales area of 41,000 square meters of existing houses, and the transaction floor price was 47,042 yuan/square meter, with a premium rate of 15%.
In addition, the land with the highest floor price in this round of land auctions is the land in Jijiamiao Village, Fengtai District. The land was won by China Resources with 5.712 billion yuan and the government holds 6% of the property rights of commercial housing. The land price is 66,885 yuan/square meter.
It is worth noting that state-owned and central enterprises are still the main force in acquiring land in this auction. In the end, Greentown won 3 land parcels with 9.84 billion yuan, China Resources won 2 land parcels with 7.994 billion yuan, and China Shipping won 2 land parcels with 6.269 billion yuan. The Poly + Gemdale consortium also won 2 parcels.
Senior, Land Division, Middle Finger Research InstituteanalystZhang Xiaofei said that the developer companies participating in this auction are almost fully covered by central state-owned enterprises. Greentown, formerly a private real estate company, has become a state-owned enterprise background developer of CCCC Holdings after the mixed-ownership reform. The performance in this local auction is relatively bright, and a total of 7 parcels of land have participated. Block competition, and finally get 3 residential land. Except for the private company CIFI, all other land-acquisition companies are state-owned developers.
Is the land market showing signs of recovery?
The Beijing Municipal Commission of Planning said that from the transaction of the first batch of centralized land supply, enterprises were more active in participating, and the transaction rate was significantly higher than that in the second half of last year. The Beijing market holds stable confidence.
shellPan Hao, a senior analyst at the research institute, believes that compared with 2021, the land supply work in Beijing will start earlier in 2022, and the land in areas of concern such as Chaoyang, Fengtai, Shijingshan and other areas will still receive applications from many real estate companies despite the adverse trend. . Among them, the two land parcels in Chaoyang, the third phase of Changping Life Science Park, and the 4 parcels in Jingkai Jiugong Town received high attention and received more than 5 quotations. It can be seen that the land in traditional popular areas still attracts more attention.
Zhang Dawei, chief analyst of Centaline Real Estate, pointed out that this round of land auctions has attracted a total of 22 real estate companies (the participation of real estate companies in the land parcels is not double-counted) and consortia to participate in the registration, and state-owned enterprises and central enterprises are still the main force. Among them, on the 17th, China Resources successively won the Fengtai and Shijingshan plots. After Greentown took the lead in winning the Cuigezhuang plot in Chaoyang District, it also won the Liu Niangfu plot in Shijingshan District.
Pan Hao believes that companies such as China Shipping, China Resources, Poly, Urban Construction, and Shoukai have high participation enthusiasm, which is directly related to the relatively good capital status of stable housing companies. The land plots acquired at the beginning of the year have the opportunity to form a sales reserve value this year, which has also become one of the important factors in this round of land auctions that real estate companies are concerned about.
However, Zhang Dawei pointed out that judging from the transaction data of this round of centralized land supply, the capital chain of real estate companies is still tight. Except for individual plots, most of the bids are very cautious, and the competitiveness is far less than the first round of centralized land supply in 2021.
“This time, the bidding process of state-owned enterprises has also changed. The bidding between the two real estate companies is sympathetic, and there is no longer the scene of various housing companies bombarding each other. Between China Shipping & Greentown, Greentown & China Resources, other companies are almost silent at the same time when bidding.” Zhang Xiaofei said.
Zhang Dawei pointed out that from the perspective of the land market, the differentiation is still very obvious, and the distribution of corporate bids is very uneven. Real estate companies have not completely gotten out of the financial pressure, and the number of participating companies is obviously not as good as last year’s first round of centralized land supply. Of course, compared with the last two rounds of centralized land supply last year, the first round of land auctions in Beijing in 2022 will see a significant recovery.
In Zhang Dawei’s view, the reasons for the signs of recovery in Beijing’s land market include: first, the acquisition of land in February can basically generate sales in August-September, so most real estate companies are actively acquiring land; second, after adjustment at the end of last year Recently, the overall Beijing property market has shown signs of recovery. The transaction volume of second-hand housing has begun to recover to 13,000-15,000 units. Under the stable market, developers have also begun to increase land acquisition; third, from the perspective of the first round of centralized land supply projects, the overall land location All are good. Some of the plots are scarce. There are many plots in Chaoyang, Fengtai and Shijingshan in the urban area. There was not much market supply in the area before. Fourth, from the perspective of real estate companies, China Resources, China Shipping and other central enterprises are still big land acquirers.
(Article Source:securitiesTimes)
