报告：中国25城住宅用地价格创新高

Core Insights - The report indicates that the residential land prices in 25 major cities in China have reached a historical high, with an average floor price of 13,003 RMB per square meter in the first four months of this year, representing a 54% increase compared to the average of 8,467 RMB per square meter for the entire previous year [1][2] - The average transaction floor price for residential land across 300 cities in the same period was 5,023 RMB per square meter, showing a year-on-year increase of over 30% [1] - The rise in land prices is primarily driven by an increase in the premium rates for land transactions, with the average premium rates for residential land in 25 key cities being 19% in the first four months of this year, significantly higher than the 6% recorded for the entire previous year [1] Market Dynamics - The high activity in the land market is attributed to three main factors: increased supply of quality land parcels, strong new home sales over the past seven months, and positive policy guidance for high-quality residential construction [2] - In the first quarter, the total transaction area of commercial residential properties in 115 key cities was 51.31 million square meters, remaining stable compared to the same period last year, with first-tier cities seeing a 26% year-on-year increase in transaction area [2] - The second-hand housing market remains more active than the new housing market, with a total transaction area of approximately 53.53 million square meters in 30 cities in the first quarter, reflecting a 22% year-on-year growth [2]