上海北京杭州三城全年卖地收入超千亿

Core Insights - The land transaction landscape for 2025 has concluded, with the title of "top land seller city" being revealed in the final days of the year [1] - Hangzhou initially led the market in the first half of 2025, but experienced a significant downturn in the second half, resulting in a total land sale revenue that, while impressive, remains relatively low compared to historical highs [2][4] Group 1: Hangzhou's Performance - In the first half of 2025, Hangzhou sold 68 residential land parcels, generating a total revenue of 1160.1 billion yuan, nearly matching the total for the entire previous year, and marking a year-on-year increase of nearly 100% [2] - The total land sale revenue for Hangzhou in 2025 reached 1420.8 billion yuan, reflecting a year-on-year growth of 21.5% [1][2] - The second half of 2025 saw a drastic decline in land sales for Hangzhou, with only 260.7 billion yuan in transactions, which is just 22.5% of the first half's performance [2] Group 2: Beijing's Year-End Surge - Beijing made a strong year-end push, with significant transactions occurring in the last week of December, including a notable sale in Haidian district for 84.56 billion yuan [3][4] - The total land sale revenue for Beijing in 2025 amounted to 1427.4 billion yuan, despite a year-on-year decrease of approximately 24% in transaction volume [4] - Beijing's land market saw an increase in floor prices by 20% and a rise in premium rates, allowing it to surpass Hangzhou in the final weeks of the year [4][5] Group 3: Shanghai's Dual-Track Strategy - Shanghai's public land sales included 48 residential parcels, generating 1427.2 billion yuan, a year-on-year increase of 1.9%, nearly matching Beijing's performance [6] - In addition to public sales, Shanghai utilized a dual-track model, with approximately 30 parcels sold through private agreements, contributing over 900 billion yuan to the total land revenue [6] - When including non-public sales, Shanghai emerges as the "invisible champion" of the land market, leading in actual land sale revenue for 2025 [6][7] Group 4: Conclusion on Top Seller City - The title of "top land seller city" varies based on the metrics used; Beijing leads in public auction sales, while Shanghai holds the top position when including all sales methods [7]