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土地溢价为何提升?
Huachuang Securities· 2025-03-04 10:25
Group 1: Market Overview - Recent land premium rates in core cities have reached a new high since the second half of 2021, indicating a significant shift in the land market dynamics[2] - Overall, both supply and demand in the land market have decreased, with land supply dropping by approximately 25.5% year-on-year in early 2025[3] - The land transaction area also saw a decline of about 4.2% year-on-year, reflecting weak demand despite some recovery in core cities[3] Group 2: Inventory and Corporate Behavior - National land inventory has accumulated to approximately 3.8 billion square meters, with a depletion cycle extending to 56 months, indicating ongoing pressure in the market[4] - The willingness of real estate companies to acquire land remains low, with a land acquisition-to-sales ratio of 0.17, significantly below the historical threshold of 0.3[4] - Major state-owned enterprises have increased land acquisition, with the top seven state-owned enterprises acquiring land worth 109.4 billion yuan in early 2025, a 161% increase year-on-year[8] Group 3: Premium Rates and Future Outlook - The land premium rate for 2025 has surged to 13.4% in key cities, marking the highest level since July 2021[6] - The contribution of first-tier cities to the overall land premium rate has surpassed levels seen in the first half of 2021, indicating a structural recovery in the market[8] - Future land supply is expected to remain constrained, with policies focusing on reducing total supply while enhancing the quality of land offered in core urban areas[2]
43个月新高!平均溢价率首破13%,什么信号?
券商中国· 2025-02-28 13:08
在重点城市高溢价地块成交带动下,平均溢价率再创新高。 今年以来,一二线城市土地市场高溢价地块频现,但三四线城市仍以底价成交为主。 据克而瑞研究中心统计,2月以来,北京、上海、杭州多宗高总价地块的高溢价成交,拉动重点监测城市平均 溢价率升至13.4%。这是自2021年7月以来平均溢价率首次突破10%。 业内人士预计,上半年重点城市土地热度有望延续,将有更多高溢价优质宅地出现,并且会蔓延到更多城市, 具备"低库存+强购买力"双重优势的区域有望率先迎来地价回暖。 重点城市平均溢价率创新高 2月,尽管土地成交面积同环比持续回落,但北京、上海、杭州迎来多宗高总价地块的高溢价成交,土地成交 金额同比上涨,平均溢价率也再创新高。 据克而瑞研究中心统计,截至2月25日,2月全国300城土地供应2702万平方米,环比下降22.6%,同比下降 36%;成交建筑面积2283万平方米,环比下降52%,同比下降6%;成交金额917亿元,同比上升39%,其中, 一线城市成交金额304亿元,环比下降4%,同比上升27%。因一二线城市优质地块成交占比上升,2月平均楼 板价达到4019元/平方米,环比上月同期增加48%。 值得注意的是,重点监 ...
43个月来首破10%!土地市场释放什么信号?
证券时报· 2025-02-28 06:26
据克而瑞研究中心统计,截至2月25日,2月全国300城土地供应2702万平方米,环比下降22.6%,同比下降36%;成交建筑面积2283万平方米,环比下降 52%,同比下降6%;成交金额917亿元,同比上升39%,其中,一线城市成交金额304亿元,环比下降4%,同比上升27%。因一二线城市优质地块成交占比上 升,2月平均楼板价达到4019元/平方米,环比上月同期增加48%。 在重点城市高溢价地块成交带动下,平均溢价率再创新高。 据克而瑞研究中心统计,2月以来,北京、上海、杭州多宗高总价地块的高溢价成交,拉动重点监测城市平均溢价率升至13.4%。这是自2021年7月以来平均溢 价率首次突破10%。 业内人士预计,上半年重点城市土地热度有望延续,将有更多高溢价优质宅地出现,并且会蔓延到更多城市,具备"低库存+强购买力"双重优势的区域有望率 先迎来地价回暖。 重点城市平均溢价率创新高 2月,尽管土地成交面积同环比持续回落,但北京、上海、杭州迎来多宗高总价地块的高溢价成交,土地成交金额同比上涨,平均溢价率也再创新高。 值得注意的是,重点监测城市平均溢价率13.4%,较上月增加了4.7个百分点,自2021年7月以来首次 ...