YUEXIU PROPERTY(HK:00123) Mei Ri Jing Ji Xin Wen·2026-02-25 14:18Core Insights - The Guangzhou racetrack land parcel, a highly sought-after property, was auctioned on February 25, 2026, attracting significant attention due to its status as the last prime land in Zhujiang New Town, with a starting price of 18.644 billion yuan, ranking among the top five highest total price land parcels in Guangzhou history [2][5][9] - The auction saw intense competition, with the final bid reaching approximately 23.6 billion yuan, setting a new record for the floor price of residential properties in Guangzhou at around 85,000 yuan per square meter [2][9][13] - The land's strategic location connects two major CBDs and is expected to trigger a reshuffling of the luxury housing market in Zhujiang New Town, with potential impacts on surrounding property prices [4][13] Auction Details - The auction was conducted online, with eight real estate companies participating, and the bidding process lasted for nine hours, involving 243 rounds of bidding [2][9] - The total price of the land parcel exceeded 20 billion yuan by 11:10 AM and surpassed 21.9 billion yuan by 3:40 PM on the auction day [9] - The overall premium rate for the land was approximately 26.6%, with the residential portion seeing a premium rate of about 35.67% [9] Market Implications - The new land parcel is expected to significantly influence the luxury housing market in Guangzhou, particularly in the Zhujiang New Town area, which includes several high-end residential projects [13][14] - Comparisons are being made between the new racetrack land project and the upcoming Poly Xian Village redevelopment project, with the latter expected to have a market price of 180,000 to 200,000 yuan per square meter [13] - Recent trends indicate a divergence in the luxury housing market, with some properties seeing prices drop below 100,000 yuan per square meter, suggesting a market adjustment phase [14][17]