After the dismal second round of centralized land supply, Hangzhou relaxed the threshold of land auction, adopted measures such as restoring the “land hook” policy, reducing the premium rate and delaying the delivery of land funds, so as to rekindle the enthusiasm of developers to obtain land. Under multiple favorable conditions, the third round of centralized land supply in Hangzhou rose against the trend, with 35 residential plots all traded and 24 capped and wagered, with a total turnover of 76.28 billion yuan. With the end of the third round of centralized land supply, Hangzhou’s 2021 centralized land supply plan has also been completed. According to the statistics of haodi.com, Hangzhou’s land (storage and industrial land not counted) transfer fee income this year reached 313.2 billion yuan, a year-on-year increase of nearly 20%, once again reaching a record high.
All 35 plots of were sold, and 24 were capped and numbered
On December 21, the third round of centralized land supply in Hangzhou was officially launched. This round of land supply launched 35 residential plots (including 1 talent rental land and 4 commercial and residential land), with a total transfer area of 1.762 million square meters, a total planned construction area of 4.161 million square meters and a total starting price of 71.29 billion yuan.
In this round of land supply, the return of Hangzhou land market is obvious: after the on-site auction on December 21 and the offline lottery on December 22, 35 residential plots were all traded, 24 were capped and lottery, with a ceiling rate of 69%. The total turnover was 76.28 billion yuan, and the average floor price was 18333 yuan / m2.
According to Kerui’s research report, in terms of premium rate, the upper limit of land supply premium rate in this round was reduced to 10%, all plots were successfully transferred, and the average premium rate rose from 4.92% to 7.03%; From the proportion of the number of capped plots, the premium capped 24 plots entered the lottery stage, accounting for 71% (excluding one talent leasing land), which is close to the market level of land auction in the first half of the year.
On December 22, 24 lands reaching the “top price” decided to finally win the real estate enterprises by means of table tennis lottery, which became the “offline public lottery” for the first time in the history of Hangzhou local auction.
Among the 24 plots, plot gs0609-12 of Qiaoxi gongchenqiao unit is the most popular. According to the transfer information, the plot is the parking lot of qianxiaohe oil depot. The east line is along the Beijing Hangzhou Grand Canal, with a superior geographical location. The previous day, the plot took the lead in premium capping in the online bidding link, becoming the first lottery plot.
Plot gs0609-12 of Qiaoxi gongchenqiao unit has attracted 24 real estate enterprises to participate in the competition, and the winning rate is only 4.17%, which is the lowest “winning rate” among the 24 plots. Finally, Dexin real estate, a local real estate enterprise in Hangzhou, was lucky. The transaction floor price was 34153 yuan / m2, and the limited price of hardbound house was 51440 yuan / m2, with a premium rate of 9.72%.
Greentown group and Hangzhou Binjiang Real Estate Group Co.Ltd(002244) two local real estate enterprises became the biggest winners of the lottery, winning 3 plots respectively. Among them, Greentown was not active in the first two rounds of centralized land supply, but in the third round of land supply, Greentown, which had been dormant for a long time, took part in more than half of the plots and won three plots with a total price of 8.322 billion yuan. While Hangzhou Binjiang Real Estate Group Co.Ltd(002244) won 3 plots of plot jg0603-r21-06 of Jianqiao unit, plot bj1301-r / B-01 of Xixing unit (jointly built Hangzhou real estate) and plot xscq2701-11 of Shushan unit (jointly Xingyao) with RMB 6.497 billion.
In addition to the plots obtained in the on-site auction the day before, Greentown and Binjiang won four plots respectively this time, and became the real estate enterprises with the most land in the third round of centralized land supply in Hangzhou.
In addition to the local real estate enterprises, the central enterprise China Resources won two plots with a total price of 12.275 billion yuan. Among them, hang Zheng Chu Chu [2021] No. 45 plot of Huafeng Paper mill complex in Shenhua unit, Gongshu District is composed of three plots, with a limited hardcover average price of 46200 yuan / m2 and a total transaction price of 9.433 billion yuan, which is the single plot with the highest total transaction price in this round of land supply. According to market news, China Resources will build a commercial complex “Vientiane city” here.
In addition, China shipping, China Merchants consortium and Yuexiu also won one lot respectively. It is worth mentioning that many new faces have entered Hangzhou for the first time in this round of land supply. Taizhou Weixing group, Shenzhen tefa, Shanghai New Huang Pu Industrial Group Co.Ltd(600638) have made some gains in this lottery.
Of course, the lottery is random, and there are not a few real estate enterprises with bad luck. For example, Lianfa, Jianfa, Jindi and other real estate enterprises registered for more than 5 plots have no harvest this time, while Xuhui, poly and other real estate enterprises actively involved in the land hook are only regretful “running”.
the improvement of profit level has restored the confidence of real estate enterprises
Many industry insiders said frankly that the return of the third round of centralized land supply in Hangzhou was “expected”.
Gao Yuansheng, executive deputy general manager of Zhejiang branch of China Index Research Institute, analyzed to the reporter of Huaxia times: “There are four main reasons for the recovery of Hangzhou land market: first, the government has reserved profit space by reducing the starting price and raising the price limit, which has stimulated the enthusiasm of real estate enterprises; second, it has optimized the transfer conditions, such as reducing the premium rate by 10% and delaying the delivery of land transfer fees; third, the plot is relatively high-quality and located in the core plate, which is relatively scarce, and the future de industrialization is guaranteed; fourth For real estate enterprises, this is the last opportunity to get land in Hangzhou this year. Replenishing positions at this time can directly drive the performance of next year, and the time to get land is more appropriate. ”
For example, from the perspective of transfer conditions, Hangzhou has made many adjustments this time: raising the price limit of new houses, restoring the land hook policy of “pre announcement”, and reducing the capital pressure of real estate enterprises to participate in the auction; The upper limit of the land premium rate was reduced from 15% to 10%, the deposit was reduced from 20% to 10%, and the maximum was no more than 50 million. These measures are recognized to stimulate the enthusiasm of enterprises to participate in the auction and reserve profit space for real estate enterprises.
According to Kerui data, the actual price difference of the third batch of centralized land supply in Hangzhou is nearly 14000 yuan / m2 (34 homesteads, excluding 1 special land for talents). Since the implementation of centralized land supply in Hangzhou this year, the profit space of real estate enterprises has shown an upward trend, and this time it has reached a new high since 2020. From the calculation of specific plots, the profit space of capped plots is higher; The actual average price difference between the 24 capped plots is 14535 yuan / m2. The substantial improvement of profit level and the high security market environment in Hangzhou have become the main reasons for the improvement of land acquisition enthusiasm of real estate enterprises.
The easing policy is also a positive factor for the boost of market confidence: Kerui Real Estate Research Center pointed out that the third centralized land supply in Hangzhou has increased significantly, which is also greatly related to the recent policy environment. For example, recently, the people’s Bank of China and the China Banking and Insurance Regulatory Commission jointly issued a notice proposing to strengthen bond financing support, clearly support high-quality real estate enterprises to register and issue debt financing instruments in the inter-bank market, and raise funds for mergers and acquisitions of risk disposal projects of key real estate enterprises, which undoubtedly brings a more positive signal to the capital end of real estate enterprises.
The reporter of Huaxia Times noted that according to the statistics of Zhejiang newspaper media Real Estate Research Institute, in the past year, the total turnover of new houses in the ten districts of Hangzhou has reached 17.85 million square meters, and the monthly average de urbanization has reached 1.487 million square meters. The de urbanization of new houses is still hot. In contrast, the total inventory in the ten districts of Hangzhou is less than 24 million m3, and the marketable inventory is about 5.6 million m3. Based on the average monthly deconvolution in recent one year, the deconvolution cycle of the total inventory is only about 16 months, and the deconvolution cycle of the marketable inventory is less than 4 months.
“It can be seen that the current inventory situation in Hangzhou is at a very low level, and there is almost no pressure on the de urbanization of new houses, which has also laid a foundation for real estate enterprises to actively take land.” Zhejiang Newspaper Media Research Institute believes that.
With the end of the third round of centralized land supply, Hangzhou’s 2021 centralized land supply plan has also been completed. According to the statistics of haodi.com, coupled with the land transfer fee income of more than 93 billion yuan before the centralized land transfer policy was implemented this year, the land (warehousing and industrial land) transfer fee income of Hangzhou this year reached 313.2 billion yuan, a year-on-year increase of nearly 20%, once again reaching a record high. From 2017 to 2021, the income from land transfer fees in Hangzhou was 224.18 billion, 244.72 billion, 273.2 billion, 261.17 billion and 313.2 billion respectively. Except for a slight decrease in the same period in 2020, the income in other years increased year-on-year.
(Huaxia times)
