On September 29, ten batches of land auctions began in Shanghai. The total land concession area of 4 plots involving residential land was 12,141.5 square meters, and the total planned construction area was 333373.04 square meters, with a total starting price of 14.193 billion yuan. In the end, 4 parcels of land were successfully sold, with a transaction amount of 15.969 billion yuan. Of these, the Minhang Gumei plot and the Yangpu Wujiao site all bid for more than 100 rounds and a premium of more than 20%. “The phenomenon of high premiums of 30% or more, which was common in the market before, has basically disappeared. The premium for high-quality land plots has stabilized within a rational range of 20% or more. Housing enterprises have moved from blindly competing for speed and scale to actuarial costs and deep cultivation of benefits, and the quality of market competition continues to improve.” Lu Wenxi, a real estate market analyst in the Central Plains of Shanghai, said that the Shanghai land auction was the first actual battle after the rules were implemented. Land plots related to Yangpu and Minhang achieved high premium competition of over 20% with solid fundamentals; ordinary plots related to Hongkou and Baoshan were traded at rational reserve prices, forming a mature market pattern of “full competition for high-quality resources and rational pricing of ordinary land”, and housing enterprises will evaluate land values more and more accurately.

On September 29, ten batches of land auctions began in Shanghai. The total land concession area of 4 plots involving residential land was 12,141.5 square meters, and the total planned construction area was 333373.04 square meters, with a total starting price of 14.193 billion yuan. In the end, 4 parcels of land were successfully sold, with a transaction amount of 15.969 billion yuan. Of these, the Minhang Gumei plot and the Yangpu Wujiao site all bid for more than 100 rounds and a premium of more than 20%. “The phenomenon of high premiums of 30% or more, which was common in the market before, has basically disappeared. The premium for high-quality land plots has stabilized within a rational range of 20% or more. Housing enterprises have moved from blindly competing for speed and scale to actuarial costs and deep cultivation of benefits, and the quality of market competition continues to improve.” Lu Wenxi, a real estate market analyst in the Central Plains of Shanghai, said that the Shanghai land auction was the first actual battle after the rules were implemented. Land plots related to Yangpu and Minhang achieved high premium competition of over 20% with solid fundamentals; ordinary plots related to Hongkou and Baoshan were traded at rational reserve prices, forming a mature market pattern of “full competition for high-quality resources and rational pricing of ordinary land”, and housing enterprises will evaluate land values more and more accurately.