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Google Translated Article from Xinhua Financial:

Developer continue to purchase high value land despite the housing regulation

2017-04-07 07:50:16 Source: Economic Reference​

The first quarter of this year, the real estate regulation continued to overweight the housing market. Since March, more than 30 cities have been introduced or upgraded to varying degrees of control policies. In this context, the first quarter of the overall decline in the value of the housing market. However, the real estate business in the land market, enthusiasm did not diminish, total land purchase from Top 10 developer in the quarter total price of 224.6 billion yuan, up 83.3% year on year.
Land purchase price increased significantly:
Despite the recent introduction of the property market regulation and control of the new purchases, it is still difficult to hold land prices rise.
March 28 afternoon, the Beijing land market had the first auction after the housing regulation. After fierce competition, Developer Tianheng offered 1.58 billion yuan to purchases Tongzhou Lake block. Another developer Shouchuang offered 1.76 billion yuan to buy 128,000 square meters for Miyun blocks.
On March 30, Beijing land market there are three commercial sites to participate in the auction, located in Chaoyang District and Daxing District. Three F3 type of land total planning construction area of 241,000 square meters, the total starting bid price was 4.04 billion. The final transaction price totaled 5.35 billion.
The first quarter of this year, the Shanghai property market turnover fell about 30% qoq. But land prices continue to rise, for example, at one area, land floor price of 30,000 yuan / square meter, is expected to sell at price of more than 50,000 yuan / square meter. This year in March, Shanghai land market had 5 sites to sell, a single block of more than 15 developers bidding.
Some second and third tier cities are no exception, the first quarter of this year, Suzhou City, operating land construction (excluding Wujiang District) a total of 14 to sell, the transaction area of 632,200 square meters, turnover of 17.877 billion yuan. Land sales area increased by 182.73% year on year, turnover increased by 1101% year on year.
China Index Research Institute statistics show that the first quarter of this year, top 10 major developer bought total land value of 224.6 billion yuan, a substantial increase of 83.3%.
To effect, in the first three months of 2017, the supply of land market was at a low level, and the urban investment trend of housing prices converged highly, which led to the high price of land in the key cities. The planned area of top 10 developer's land increased by 39.7% year on year.

DYOR.
Frank.

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