上海土拍：民企现身，央国企争抢“地王”

Core Insights - The Shanghai land auction on June 19 saw a total of 5 plots sold for 191.56 billion yuan, with a starting price of 192.5 billion yuan, indicating strong competition for prime land among state-owned enterprises and private companies [1][2][10] - The auction highlighted a mix of high premium and low premium transactions, with the Yangpu Binjiang plot achieving a premium rate of 30.8%, becoming the highest-priced residential land in the area [1][3][4] - The presence of local private enterprise Dahuazhong Group, which acquired a plot at the base price, signals a positive trend for private companies returning to the land auction market [1][13] Land Auction Highlights - The auction featured three main highlights: the emergence of a new unit price king and total price king, the rare occurrence of a large-scale commercial plot being sold at a premium, and the participation of private enterprises in a market dominated by state-owned companies [3][6] - The Yangpu plot was won by Poly Developments for 35 billion yuan, with a floor price of 95,530 yuan per square meter, surpassing previous records [3][9] - Poly Developments also secured another plot in Minhang for 31.4 billion yuan, with a premium rate of nearly 13% [5][6] Market Trends - The overall land market in Shanghai is expected to maintain a certain level of activity, driven by the competition for quality plots among major real estate companies [2][16] - The first five rounds of land auctions in Shanghai have generated over 613 billion yuan, with the fifth round alone accounting for a significant portion of this total [10] - There is a noticeable increase in private enterprise participation in land acquisitions, with a reported 25% share of land purchases in key cities, reflecting a recovery in confidence among private investors [14][16]