YUEXIU PROPERTY(HK:00123) 克而瑞地产研究·2026-03-04 08:58Core Viewpoint - The land market in key cities has shown significant improvement following the premium sale of the Guangzhou racetrack site, with a notable increase in transaction volume and average premium rates, indicating a resurgence in market activity post-Spring Festival [1][3]. Supply - The total land supply for the week was 2.83 million square meters, a 156% increase compared to the same period last year. The average plot ratio for residential land was 2.05 [2]. - The most notable land offering was in Shanghai's Changning District, with a planned area of 76,000 square meters and a starting price of 5.56 billion yuan, translating to a starting floor price of 73,000 yuan per square meter. This site is strategically located near established commercial and educational resources [2]. Transaction - The total land transaction area reached 1.59 million square meters, a 13% increase year-on-year, with a transaction value of 25.6 billion yuan, marking a 233% increase from the previous year. The average premium rate was 23.4%, the highest in nearly a year, driven by the high premium sale of the Guangzhou racetrack site [3]. - The Guangzhou racetrack site attracted significant attention, with eight developers participating in the bidding process. The site was ultimately won by Yuexiu for 23.6 billion yuan, making it the second-highest total price in Guangzhou's land auction history, with a premium rate of 26.7% and a nominal floor price of 42,000 yuan per square meter [3][4]. Advantages of Key Sites - The Guangzhou racetrack site is considered a prime undeveloped area in the Zhujiang New Town East District, with mature transportation links and proximity to high-end commercial centers. Future developments include educational facilities and improved transportation infrastructure, enhancing the area's appeal [4].