证券时报·2025-12-08 12:18Core Viewpoint - The article highlights the recent land sales in Shenzhen, indicating a strong demand for residential land in core urban areas, reflecting confidence from leading real estate companies despite market adjustments [1][3]. Group 1: Land Sales in Shenzhen - On December 8, Shenzhen successfully auctioned multiple residential land parcels, with China Overseas Land & Investment winning the T207-0068 plot for a total price of 3.186 billion yuan, and Longfor Group acquiring the A627-0268 plot for 766 million yuan, totaling 3.952 billion yuan [1][3]. - The T207-0068 plot has a floor price of approximately 77,360 yuan per square meter, with a premium rate of 42.49%. The land sale conditions require bidders to provide a commitment for "delivery upon certification" [3][4]. Group 2: Market Trends and Developer Strategies - Analysts indicate that the high premium for the T207-0068 plot reflects the resilience of the luxury market and a shift in developer strategies from high turnover and density to high quality and lower density [3][4]. - The new residential land parcels in Shenzhen are primarily located in core areas with lower plot ratios, allowing for the development of higher-end products, which can command premium prices [4]. Group 3: Overall Market Dynamics - The land auction activity in Shenzhen is part of a broader trend, with multiple cities experiencing sustained land auction enthusiasm. In the first 11 months of the year, the top 100 real estate companies acquired land worth 847.8 billion yuan, a 14.1% increase year-on-year [6]. - The market is expected to continue focusing on high-quality developments, with policies aimed at stabilizing the market and promoting demand release, while the overall market still faces pressures [6].