Xin Biaodian Engineering Management Co. Ltd.

A large number of high-quality plots enter the city Beijing’s land transfer fees exceed 190 billion


In fact, Beijing’s annual land transfer payments in 2014 havealready set a new historical record. Up to now, Beijing has completed 140 landtransactions in 2014. The land transfer fees totaled 191.14 billion yuan,surpassing last year and setting a record high. In 2013, Beijing’s landtransfer fee was 182.18 billion yuan.

Land transfergold innovation high

Among thecommercial lands currently landed by the Beijing Municipal Bureau of Land andResources, only retail commercial land No. 3 Fanjia Village, Fengtai District,will be let on December 30. The remaining land transfer time will be in 2015.Fanjia Village starts at RMB 550 million. At the same time, no industrial landhas been sold during the year. At this point, the 2014 Beijing land market willofficially close after being sold at No. 3 Fanjia Village. If the FanjiaVillage No. 3 site is successfully traded, Beijing’s land transfer fees for theentire year are expected to be around RMB 192 billion.

In response,Zhang Dawei, chief analyst of Centaline Real Estate, analyzed that Beijing’sland market created a number of records in 2014, in which the total turnoverand residential land sales (131.1 billion yuan) were all new high, and theaverage floor price of residential land was as high as 14,557 yuan / squaremeter, ring than in 2013, 9616 yuan / square meter rose by 51%.

In contrast, thefloor price of commercial and financial land fell from the 9596 yuan/squaremeter last year to 8491 yuan/square meter, down by about 11.5%.

Last year, thefiery land market has been transmitted to this year.” Guo Yi, director ofinstitutional marketing at Yahao, also told reporters that “because last year'sproperty market was hot, many housing companies had accumulated huge amounts ofmoney in the hands of the people, and the land was in short supply. This causedthis year. In the first half of the year, the land market was fiercelycompetitive and the premium rate was generally high. This is one of the reasonswhy this year’s land market data in Beijing surpassed last year.”

According to thepublic statistics of the Beijing Land Consolidation Reserve Center, thereporter said that in the first four months of this year, Beijing’s landtransfer fees have already reached 105.5 billion yuan, accounting for 55% ofthe total land transfer fees in Beijing.

Grab the land and flowin parallel

In fact, theland market in 2014 was affected by multiple factors such as policies, markets,and land supply. It was not a hot scene in 2013 and experienced many ups anddowns. At the beginning of the year, the land market was frequently sold athigh prices. In the middle, it was cut off for a hundred days, and Sunhe hadtwo auctions at a high price. Although land market transactions have surpassedlast year's total so far, it has not been possible to conceal the weakness ofthe land market in the second half of this year.

Many industryanalysts believe that the reason why the land market has a higher turnover thisyear is mainly due to the concentration of a large number of high-quality landparcels. For example, the West Bureau land that was won by Taiyi at thebeginning of the year and the Shijingshan Liunianfu site that entered themarket in September all caused fierce competition for a number of housingcompanies. The Huajia Hutong plot, which was temporarily suspended for saleuntil August, was the land king on the Beijing land market this year for atotal price of 7.46 billion yuan and a floor price of nearly 97,000 yuan persquare meter.

However, it isalso worth noting that not all high-quality land has been robbed. In the thirdquarter of the most lethargic transaction in the property market, the landmarket is still swiftly relived. Sunhe plate, which was originally favored bymany developers, ushered in a dramatic reversal this year. In July, the initialfloor price of K block in Sunhe area was 35,000 yuan per square meter, settinga record for the auction price in Beijing, but the plot Eventually, it wastaken out by nobody's bid; the dramatic thing was that when the site landedagain in September this year, it failed to meet the buyer as expected. Inaddition to Sun River's “Quasi-Regional King”, there are other land parcelssuch as the Changgou Town block in Fangshan District that also encounteredquake.

In this regard,industry sources said that this year's land flow shooting occurred in the thirdquarter, when the property market was bleak, "de-inventory" is themain task of housing enterprises, and large-scale acquisition will undoubtedlyincrease the cost of its funds, is The main reason causing the final flow ofmany blocks.

With theintroduction of a series of new credit policies at the end of September, theland market in Beijing has again significantly increased. Many housingenterprises have started to pay attention to the land market after theintroduction of the New Deal, and are actively preparing to take land. ShenLinan, the brand director of the Thai Baht Group (000732, stock market), alsotold reporters in an interview that "the introduction of the New Deal canbe said to let the housing companies have smelled the breath of spring."

The reporterobserved that after the “9·30 loan-restricted New Deal” was proposed, Beijing’sland market has obviously warmed up compared to September. From October 13 to28, a total of 10 lands were sold successfully in half a month, and land salesamounted to 19.78 billion yuan. Compared to 9.993 billion yuan in September,the ring growth rate exceeded 100%. Zhang Dawei pointed out that land prices inthe future first-tier cities will continue to operate at high levels."Compared to the visible risks of third- and fourth-tier cities, housingenterprises are getting more and more involved in first-tier cities. Under suchcircumstances, the fierce competition in the land market in first-tier citiesis inevitable."


"Macro"land starts at over 7 billion yuan

The land marketin 2015 may start with a high profile. The Baiquanyao block outside the SouthFourth Ring Road starts at more than RMB 7 billion and is expected to be let onJanuary 7 next year. In 2014, the transaction price of the Huajia Hutong sitein Xicheng District exceeded 7 billion yuan. At present, according to thereporter's understanding, including Vanke, a number of housing companies areconcerned about the white pot kiln plots.

Total pricethreshold will test the strength of housing companies

The Baipenzikiln outside the South Fourth Ring is located in the Guogongzhuang section ofthe South Fourth Ring Road. One to two kilometers to the west is the JingtouVanke West China Project and the Zhonghai No. 9 Mansion.

From theperspective of market demand, GuoGongZhuang has become a hot spot in theBeijing property market after China Shipping, Beijing Capital Investment andChina Vanke entered. Yahao agency statistics show that as of December 20th,Beijing Vanke West China Project achieved sales of 2.952 billion yuan in 2014,ranking second in Beijing's major residential projects.

Although theadvantages of the Baipen Kiln plot location are obvious, it is not easy for thereal estate companies to think about income. The land is large and the totalprice is high. The funding threshold will be the primary problem facing thehousing enterprises.

The totalstarting price of the land is 7.07 billion yuan. Even if the premium rate isonly 20%, the total transaction price will exceed 8.4 billion yuan. A generalmanager of a real estate company in Beijing told the reporter that due to thepressure of capital costs, it is unlikely that a housing company will get landalone, or a very small number of housing enterprises will choose to fightindependently. The greater possibility is that large housing enterprises form acoalition. Get the ground, spread financial pressure and market risk.

Limited profitexpectations

The white-basinkiln plots have a planned construction area of approximately 419,000 squaremeters, of which 163,300 square meters of limited-price housing and 12,260square meters of self-occupied commercial housing are required. The former hasa sales limit of 17,000 yuan per square meter. The sales limit is 29,000yuan/square meter. This also means that the Bai Basin Kiln site will beequipped with the most expensive self-occupied commercial housing in Beijing.

In addition tothe construction of price-restricted housing and self-contained housing, anadditional 6,880 square meters of educational facilities will be deducted. Theremaining available commercial houses in the Baipenyao block will be up to126,000 square meters. The plot ratio of commercial housing is 2.8, which, inthe opinion of the industry, has constrained the future residential propertiesof the white pot kiln, and it is difficult to develop it as a high-end,low-density residence. In the future, the product is just about to change. “Thepart of the price-restricted housing is definitely losing money, since thehousing can have a slight surplus. The overall profit space is limited.” Ageneral manager of a housing company told reporters.

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