【房地产】1-4月光大核心30城宅地土拍“量价齐升”——土地市场月度跟踪报告（2025年4月）（何缅南）

Core Viewpoint - The real estate market is showing signs of recovery with increased land transaction volumes and prices, particularly in key cities, indicating a potential investment opportunity in the sector [2][3][4]. Group 1: Land Transaction Data - In the first four months of 2025, the total residential land transaction area in 100 cities increased by 1.5% year-on-year, totaling 56.67 million square meters, while the average transaction price per square meter rose by 20.2% to 7,738 yuan [2]. - For first-tier cities, the supply of residential land was 3.43 million square meters, up 4.8% year-on-year, but transaction volume decreased by 19.8% to 2.44 million square meters, with an average price of 45,072 yuan per square meter, reflecting a significant increase of 65.2% year-on-year [2]. - In second-tier cities, the supply of residential land decreased by 4.7% to 29 million square meters, while transaction volume increased by 2.2% to 25.79 million square meters, with an average price of 9,281 yuan per square meter, up 20.4% year-on-year [2]. - Third-tier cities saw a dramatic decline in land supply by 32.7% to 28.75 million square meters, but transaction volume increased by 3.3% to 28.45 million square meters, with an average price of 3,140 yuan per square meter, up 5.5% year-on-year [2]. Group 2: Top 50 Real Estate Companies - The top 50 real estate companies reported a 46.3% year-on-year increase in newly acquired land reserves, valued at 376.1 billion yuan, with China Jinmao, Greentown China, and China Resources Land leading in value [3]. - The total area of newly acquired land by these companies was 27.79 million square meters, reflecting a 1.7% year-on-year increase, with Greentown China, Poly Developments, and Bangtai Group leading in area [3]. Group 3: Market Trends and Pricing - In April 2025, the overall premium rate for land transactions in 30 core cities was 12.9%, an increase of 9.6 percentage points year-on-year, indicating heightened competition for land [4]. - The total number of land transactions in April 2025 was 101, with a total area of 6.4 million square meters, down 12.8% year-on-year, and a total transaction value of 90.3 billion yuan, up 24.1% year-on-year [4]. - The average transaction price per square meter in April was 14,112 yuan, reflecting a 42.4% increase year-on-year, with notable high premiums in cities like Hangzhou, where several plots saw premiums exceeding 50% [4]. - From January to April 2025, the total number of land transactions in the core 30 cities was 400, up 26.2% year-on-year, with a total area of 27.74 million square meters, up 7.9%, and a total transaction value of 369.4 billion yuan, up 38.6% year-on-year [4].