上海新年“第一拍”两宗地底价成交，2025年卖地揽金2453亿

Core Viewpoint - The Shanghai land market continues its trend of "one auction per month" into 2026, with a focus on multiple small batch releases, as evidenced by the successful auction of two residential plots in January 2026, which were sold at their starting prices [1][8]. Group 1: Auction Details - The first land auction of 2026 in Shanghai took place on January 6, featuring two residential plots in Pudong and Minhang, with a total starting price of approximately 4.57 billion yuan [1]. - Both plots were successfully sold at their base prices, with Yuexiu Property acquiring one for 2.56 billion yuan and Zhijiang Group for 2.01 billion yuan [1][6]. - The Pudong plot is notable as it is the first residential land released in the Senlan area since the introduction of the "good housing" policy, covering an area of approximately 2.69 hectares with a floor area ratio of 2.5 [5][6]. Group 2: Market Trends and Predictions - According to Zhang Wenjing from the China Index Academy, the current market is in a traditional off-peak season, leading to reduced enthusiasm among developers for land acquisition [1]. - It is anticipated that the pace of land acquisition will remain stable in the short term, with the release of quality plots in core areas expected to boost market participation [1]. - The auction results indicate a trend where major state-owned enterprises like China Resources, Poly, and China Merchants did not participate, highlighting a shift in market dynamics [4][5]. Group 3: Historical Context and Future Outlook - The 2025 Shanghai land market was characterized by high competition and record-breaking land prices, with a total land sale revenue of approximately 245.3 billion yuan [9][12]. - The year 2025 saw significant land price increases, with several plots achieving premium rates above 40%, and the highest premium reaching 46% [10]. - The trend of increasing participation from private enterprises in the land market is noted, with local firms like Dahua Group actively acquiring plots [12][13].