Zheng Quan Shi Bao Wang·2025-10-22 13:29Group 1 - The core viewpoint of the articles highlights the ongoing enthusiasm in land auctions across multiple cities, with real estate companies actively seeking opportunities to acquire land [1][2] - In the second half of this year, Vanke has participated in land acquisitions in at least nine cities, indicating a strategy of replenishing land reserves in key markets [1] - The total land acquisition amount for the top 100 real estate companies in the first nine months of this year reached 727.8 billion yuan, representing a year-on-year increase of 36.7% [2] Group 2 - The land market remains focused on high-quality plots in core areas, with significant transactions such as the 12.64 billion yuan acquisition in Hangzhou, which had a premium rate of 19.93% [1] - The trend indicates that the fourth quarter is typically a peak period for land supply, with expectations of increased market supply, although the competition for quality plots in core cities is likely to continue [2] - Many cities, particularly third and fourth-tier cities, are experiencing a downturn in land auction performance, with both the number of plots offered and transaction metrics declining year-on-year [2]