前10月“抱团”拿地频现，中海、招商领跑新增货值榜

Core Insights - The total land acquisition amount of the top 100 real estate companies from January to October increased by 26.4% year-on-year, totaling 783.8 billion yuan, although the growth rate has significantly slowed compared to previous months [2][5] - Major players in land acquisition include China Overseas Land & Investment, China Merchants Shekou, and Greentown China, with China Overseas leading with a new value of 187 billion yuan [3][5] - The trend of joint land acquisition has become mainstream among real estate companies to mitigate risks and share benefits, particularly in first and second-tier cities [1][8] Land Acquisition Trends - The top three companies in terms of new value from January to October are China Overseas (187 billion yuan), China Merchants Shekou (180.7 billion yuan), and Greentown China (120.9 billion yuan) [3][5] - Joint acquisitions are prevalent, especially in high-value land deals, with a notable transaction involving a consortium acquiring a project for 43.95 billion yuan, setting a record for residential land sales [5][8] - The land acquisition strategy is focused on core cities, with state-owned enterprises and local government-backed firms dominating the market, while private companies are primarily supplementing their land reserves in specific regions [5][9] Market Dynamics - In October, the land auction heat continued in cities like Shanghai and Hangzhou, with significant transactions occurring, including a 77.37 billion yuan deal in Shanghai [9][10] - The average premium rate for residential land in Hangzhou reached 16%, while other regions like Wuhan showed weaker demand due to high inventory levels [9][10] - The land acquisition-to-sales ratio for the top 100 real estate companies was 0.29, indicating a cautious approach to land purchases amid market uncertainties [10]