China economics weekly reporter song jie
“a total of 77,379 million people spent on 31 residential sites a week, with an average premium of less than 10 per cent, up to a maximum of almost 13 per cent, without a `save' flying. Shanghai is the master of absolute control. It's worth a copycat." on june 26, lu wenxei, the chief analyst of shanghai-based properties in the city, commented on china economics weekly。
From 18 to 25 june, shanghai completed its first round of land concessions, with 31 residential plots (housing, rental housing not yet included) with a total value of $77. 3 billion, followed by hangzhou, beijing, nanjing and guangzhou, fifth among the first centralized cities。
Of the total of 56 parcels of land that were granted, the highest bargain was for the qingo zone lingo community plot, which was finally won by paulie at $10. 5 billion. The highest premium is in chen jia town, chongming district, with a premium of 12. 89 per cent, a bid of $14,418/m2 for the sale of the building, with a total price of $626. 3 million, and the only area that has exceeded the 10 per cent premium. In addition, 18 housing companies competed for a large area of residence in the more competitive melo homeland of the poshan region, culminating in a total of 1,835 million won by the paulie。
There's not much participation, there's a low premium
According to data from the institute, with the exception of the termination of one plot of land, the remaining 31 houses were closed, with a total area of 1,918,200 m2, with a total of 3. 9382 million m2, with a total value of 7,738 million yuan, with an average premium of 5. 46 per cent and an overall average price of 19649/m2. In the end, three parcels of land were cut down in quino, kimland and china, each with the highest sum of 10. 5 billion yuan。
According to the institute of estates of kerry, out of the 31 housing plots, the five new cities, kamin, qingpur, songjiang, bong-hyun and the south bank, accounted for 2. 73 million square metres, or 70 per cent of the total. This is in line with shanghai's proposal to accelerate the planning of the new city. At present, the construction of new districts still lacks a certain size (population, industry) and associated development packages. Increased supply of operational land can lead to a certain movement of people on the one hand, and the promotion and improvement of transport packages and the acceleration of industrial imports on the other。
In terms of land parcels, the highest prices were the yangpo pilian block, up to $6,4038/m2, in yangpo city, and the puto manri block, the largest yield area, at 14,7870 m2, which was won at the base of the kyoto complex. Chong ming jia town estate was the only land area that had exceeded the 10 per cent premium, with a premium of 12. 78 per cent, which was awarded。
The indigenous market is a true reflection of the expectations of developers for cities, and the average premium in shanghai is lower this time. The research director of the crete research centre, xie yang chun, concluded that under the multi-dimensional and high-precision regulation of the shanghai earth shoot policy, conventional indicators such as premium rates and the number of companies involved in the shoots are already difficult to capture。
In his view, the current regulation of the shanghai land market consists mainly of three dimensions: first, the financial dimension, with 20 per cent of the deposit per plot and the scrutiny of the availability of funds to keep most small and medium-sized housing enterprises out of the door; second, strict requirements for the introduction of industrial and commercial operations in the terms of land concessions; and, third, precision regulation through the mechanism of deduction of points through the acquisition of land, in order to prevent a small number of large-scale evictions。
“in this high-precision, multi-dimensional regulatory policy, there are still more than seven competing housing enterprises in the relatively remote regions of zhongming, songjiang and qing po, which are seen as active. As a result, the land market in shanghai, which appears to be small, with low premium rates, is in fact the heat that is masked under multidimensional regulation, which, in the long run, is of great benefit to the sound operation of the market.” u ka-chul, a researcher at ksr, said。
Keep the price steady while keeping the company profitable
In particular, the senior analyst of the shanghai branch of the institute, liu zheng, mentioned to the journalists that “a number of companies were the first to go to shanghai, such as the deep shore group, and kyoto, as well as companies such as yajul, which had not been in shanghai for many years, and were strongly present in this picture.”
“shanghai is a high-level administration with equal opportunities and equity.” according to lu, shanghai is friendly with small and medium-sized housing enterprises。
Lu wen sei said that in the past few days, shanghai soil has given small and medium-sized housing companies “entering tickets”, such as outstanding, famous cities, bright properties, etc., to the open market in shanghai in recent years, but this time they have been largely successful. Small and medium-sized housing accounts for a relatively high proportion of the suburban area, to some extent related to higher haitian prices. In addition, the real estate price connection facilitates the measurement of the cost of housing; it also gives developers a margin of profit in the hope of developing a commercial space for good products。
“looking back at the concentration of supply in other cities before, there is no shortage of large-scale housing companies, zang, and state-owned enterprises, such as zhui, paulie, hua yun, zhong, zhuang, long lake, and the concubine。
“shanghai's average land price is 0. 6, and nearly 50% of the land area is 0. 5 and the profit space is larger, based on the nominal floor price of the remaining 19 residential plots and the price of the established joint house price, after curbing the high price of land while still retaining a margin of profit for the housing establishment. The research director of the cream research centre, xie yang chun, said。
She yang chun further analysed that, in the subregion, the main urban areas of shanghai, such as jian an and yang pu, were overpriced by close to 0. 7. In the five new cities, the songjiang and qingura fields are around 0. 5 per cent more profitable than they are, compared to the three pure houses of kim seok and bong xinjiang, which account for 0. 68 and 0. 72 per cent, although there is still room for profit, attention needs to be paid to the need for overdrafts in the new city。
What are the rules of shanghai's earth shoots worth a copy
Looking back at the rules of the game in shanghai, it is not difficult to understand what industry says: “shanghai is a model for other cities to copy”。
First, shanghai did not allow magar to compete for the same plot. For example, business a and business b jointly register a company, and business a and company c also register a company, and if the two joint companies appear at the same auction, the chances of a location for a are relatively greater. Large-scale housing enterprises are well-funded and can increase the probability of land acquisition by registering multiple “sacres”. This time, such incidents were avoided by technical means to the extent possible。
Second, a one-time offer. The first centralized competition in shanghai introduced new bid-limited rules. The new bid regulation is mainly based on the setting of the initial price of the plot, the suspension price and the highest price quotation under the land price linkage mechanism. The maximum offer for the plot is generally limited to 110 per cent of the initial price. The bid is adjusted from the original bid to the “placard bid + one written offer”, i. E., if the bid does not reach the suspended price, the winner is determined on the basis of the highest bidder; when the bid reaches the suspended price, the transaction is transferred to a written offer. A written offer shall not exceed the maximum price and the winner shall be determined on the principle of the closest to the average price of a written offer. Compared to the original rule, the new bid rule limits adjustment to higher relative prices below the local price。
For example, if a bid is set on a block, the suspension price is about 107 per cent of the initial bid, with the highest bid being 110 per cent of the initial bid, and if you get 105 per cent or 106 per cent of the initial bid, no one is willing to raise a card and raise another price, that is, the price is higher. In another case, if the land is hot enough to reach 107 per cent of the initial bid (i. E., the cut-off price), then the one-off written offer will enter, and the b company will win when the bcd company's written offer reaches an average price, who can win the price closer to the average price, and if there is a “same close” situation, the winning bid will be one dollar higher than the average price for a and one dollar lower for b。
In fact, the “one-time offer chain” originated from the sioux state earth shoots, but in the same year the sioux state dirt shoots did not eliminate the magar company, resulting in hundreds of houses “hunting” the same plot。
According to luvensee, the time has come to test the market valuation and boldness of the housing company through the “one-time offer chain”. In his view, the combined technical and psychological score of land valuation could be six to seven, and luck three to four. This is certainly a very demanding measurement technique for the housing sector. Housing companies cannot bid blindly, but also need some luck to guess average prices。
In his view, in general, shanghai's rules of earth shoots could serve as a model for “repealing” in other cities, with the following obvious advantages: the combination of highs, financial penetrations, etc., and the absence of such rules in other cities; shanghai's multi-party initiatives to control the mood on the ground, in terms of the coolness of the ground; and the elimination of the presence of the magar company, which last year severely disciplined the shanghai land market with “fencemarks”. After that, magar was stopped outside the dirt market, and it was no longer visible. “the first set of new competitive bidding rules for centralized land offers is an expression of shanghai's commitment to `stable house prices, steady land prices, steady expectations', to fine-tune and make effective real estate market regulation, to further implement the `one city policy' and to accelerate the smooth and healthy development of the shanghai real estate market.”
