房地产：2024年2季度上海商办用地解读

Investment Rating - The report does not explicitly provide an investment rating for the commercial office land sector in Shanghai Core Insights - In Q2 2024, Shanghai saw a significant increase in the supply of commercial office land, with 8 plots totaling approximately 157,700 square meters, a 275% increase from the previous quarter and a 318% increase year-on-year [2] - All 8 plots were successfully sold, with a total transaction area of about 157,700 square meters, reflecting a 114% increase quarter-on-quarter and a 318% increase year-on-year [2] - The average transaction floor price for commercial office land was approximately 3,944 RMB per square meter, down 41.73% from the previous quarter and down 79.55% year-on-year [5] Summary by Sections Supply and Demand Situation - In Q2 2024, the total supply of commercial office land in Shanghai was 8 plots, with a total area of about 157,700 square meters, marking a 275% increase from the previous quarter and a 318% increase year-on-year [2] - The total planned building area for these plots was approximately 214,500 square meters, which is a 108% increase from the previous quarter and a 130% increase year-on-year [2] Price Situation - The total transaction price for commercial office land in Q2 2024 was approximately 846 million RMB, a decrease of 31.57% from the previous quarter and a decrease of 53.02% year-on-year [5] - The average transaction floor price was about 3,944 RMB per square meter, reflecting a significant decline of 41.73% from the previous quarter and a decrease of 79.55% year-on-year [5] Self-Holding Situation Analysis - In Q2 2024, the self-holding planned building area for commercial office land was approximately 43,700 square meters, a decrease of about 40% from the previous quarter, and a slight decline of 1 percentage point compared to the same period in 2023 [8] - From the beginning of 2023 to Q2 2024, a total of 56 plots of commercial office land were sold, with a total planned building area of 963,100 square meters, of which the self-holding planned building area accounted for 30.47% [10] Key Land Transfer Information - In Q2 2024, two plots involving office use were sold, both located in Qingpu District, with one plot designated for office, dining, and commercial use, and the other for commercial office use [15] - The plot located on the east side of Panlong Road had a transaction area of approximately 21,424.7 square meters and a total transaction price of 413 million RMB, with a floor price of 9,180 RMB per square meter [16][17]