土地溢价率

Search documents
【每周经济观察】第21期:多数出口货量高频回落-20250526
Huachuang Securities· 2025-05-26 14:55
Economic Indicators - The Huachuang Macro WEI index decreased to 5.03% as of May 18, down 0.12% from 5.15% on May 11[11] - Cement shipment rate increased to 41.5% as of May 16, up 2.2 percentage points from the previous week, consistent with the same period last year[20] - The average land premium rate for 100 cities dropped to 1.37% as of May 18, down from an average of 5.5% in the previous three weeks and 9.69% in April[15] Trade and Exports - U.S. imports from China fell significantly, with a year-on-year decrease of 8% in the first 21 days of May, compared to a 9.9% increase in April[5] - The number of cargo container ships from China to the U.S. decreased by 37.5% year-on-year as of May 24, compared to a 23.1% decline at the end of April[35] - The Baltic Dry Index (BDI) showed a year-on-year decline of 26.1% as of May 23, indicating a drop in shipping demand[28] Commodity Prices - Gold prices rebounded significantly, with COMEX gold closing at $3,351 per ounce, a 5% increase[1] - Domestic coal prices continued to decline, with the Qinhuangdao port price for power coal dropping by 0.5% to 611 yuan per ton[38] - The price index for iron ore (62% Fe) decreased by 1.4%, settling at $99.7 per ton[38] Debt Issuance - As of May 23, 2025, the issuance of new special bonds reached 1.68 trillion yuan, with an estimated total for the year at 4.4 trillion yuan, marking a progress rate of 38.3%[45] - The net financing progress for general government bonds reached 39.4% as of May 23, compared to 28.6% during the same period last year[53]
土地周报 | 近44个月首次出现,三四线溢价率连续四周超5%(4.14-4.20)
克而瑞地产研究· 2025-04-22 10:07
2025年第16周 Weekly 2025年4月14日-2025年4月20日,第16周土地成交规模持续回落,三四线土拍溢价率持续升温。本周重点 城市监测供应建筑面积206万平方米,环比下降24%。成交124万平方米,环比下降50%。本周一二线城市 仅出让了4宗含宅用地,均为底价出让,导致重点城市平均溢价率连续两周低于10%,不过三四线城市平均 溢价率再度攀高,达到8.8%,连续四周超过5%。 供应: 本周供应建筑面积206万平方米,环比下降24%。 本周供应含宅用地平均容积率为2.3,南京、西安、 宁波本周供应宅地平均容积率均不低于2.2,杭州本周供应宅地平均容积率也达到了1.9。 重点供应地块方面,4月14日,南京雨花台上新一宗宅地,起拍总价26.05亿元,容积率2.4,起拍楼板价1.6万 元/平方米。地块位于雨核板块的徐工片区,周边聚集着华为、中兴等软件公司,优质客源充沛,且教育、医 疗、生态资源等配套规划较为完善。小片区上一次土地出让是毗邻的2023G38地块,在2023年7月成交,成交 楼板价为2.4万元/平方米。目前同板块主力新房售价在3.7万元/平方米左右。 4月18日,杭州拱墅区新天地板块挂牌一 ...
【房地产】2月重点城市土拍热度延续,核心30城宅地整体溢价率16%——土地市场月度跟踪报告(2025年2月)(何缅南/韦勇强)
光大证券研究· 2025-03-21 08:37
点击注册小程序 2025年1-2月,TOP50房企新增土储价值1,941亿元,累计同比+45.0%,前三名为华润置地(318亿元)、 中国金茂(189亿元)、保利发展(153亿元);TOP50房企新增土储面积1,908万平,累计同比-6.8%,前 三名为华润置地(94万平)、海泰置业(87万平)、保利发展(75万平)。 特别申明: 本订阅号中所涉及的证券研究信息由光大证券研究所编写,仅面向光大证券专业投资者客户,用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户,请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限,若给您造成不便,敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 2025年1-2月,百城宅地成交建面同比+7.8%,成交楼面均价同比+20.4% 2025年1-2月,百城住宅类用地成交建面为2,947万平,累计同比+7.8%;成交楼面均价为7,159元/平方米, 同比+20.4%。分能级城市来看,1-2月, 一线城市:供应住宅类用地建面为109万平,累计同比-34.3%;成交建面为169万平,累计同比- ...
中国房地产土地周报:土拍缩量升温,平均溢价率创近三年新高
立鼎证券· 2025-03-05 10:51
Investment Rating - The report indicates a positive investment outlook for the real estate sector, particularly in land transactions, with an average premium rate reaching a three-year high of 22.9% [4][6]. Core Insights - The land supply for the week increased by 24% to 3 million square meters, while transaction volume decreased by 38% to 1.71 million square meters, influenced by pre-holiday land supply rhythms [4][6]. - Major cities like Shanghai, Hangzhou, Suzhou, and Chengdu saw multiple high-premium land parcels auctioned, with a notable average floor price increase of 152% to 17,500 yuan per square meter [6][8]. - The report highlights significant land auction results, including a Shanghai plot sold for 8.964 billion yuan with a premium rate of 38.2%, marking the third-highest nominal floor price in the country [7][14]. Supply Summary - The total land supply for the week was 3 million square meters, with a 24% increase, primarily driven by second-tier cities, which saw a 27% rise in supply [4][5]. - The average plot ratio for residential land was 2.11, with several cities like Suzhou, Changchun, and Xi'an reporting ratios below 2.0 [4]. Transaction Summary - Total transaction area was 1.71 million square meters, down 38% from the previous week, but the total transaction value increased by 57% to 29.9 billion yuan [6][8]. - The report notes that the average floor price in key cities reached 17,500 yuan per square meter, reflecting a significant increase in land value [6][14]. Key Land Auction Results - In Shanghai, a residential plot in Hongkou district was sold for 8.964 billion yuan with a floor price of 117,474 yuan per square meter and a premium of 38% [7][14]. - In Hangzhou, a plot in Chengdong New City was auctioned for 1.08 billion yuan with a premium of 54%, setting a new record for the area [8][14].
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
Core Viewpoint - The average premium rate for land transactions in key cities has reached a new high of 13.4%, driven by high-premium deals in major cities like Beijing, Shanghai, and Hangzhou, marking the first time since July 2021 that the average premium rate has surpassed 10% [2][5]. Summary by Sections Land Transaction Trends - In February, despite a continuous decline in land transaction area, major cities experienced high-premium land deals, leading to a year-on-year increase in transaction amounts. The average premium rate reached a new high, with a total land supply of 27.02 million square meters across 300 cities, a month-on-month decrease of 22.6% and a year-on-year decrease of 36% [4]. - The total transaction amount for land reached 91.7 billion yuan, a year-on-year increase of 39%, with first-tier cities accounting for 30.4 billion yuan, a year-on-year increase of 27% [4]. Premium Rate Insights - The average premium rate of 13.4% represents an increase of 4.7 percentage points from the previous month, with several cities like Shanghai, Beijing, and Hangzhou seeing transaction amounts exceeding 10 billion yuan [5]. - Notably, six out of the top ten cities by transaction amount had average premium rates exceeding 10%, with some land parcels achieving premium rates over 20%, such as the 46th parcel in Hangzhou's Chengdong New City, which had a premium rate of 72.5% [5]. Market Outlook - The market is expected to maintain its heat in the first half of the year, with more high-premium quality residential land anticipated to emerge, particularly in areas with low inventory and strong purchasing power [6][7]. - The trends indicate that high-premium transactions for quality residential land in key cities will become the norm, with land heat expected to spread from core city areas to surrounding regions [7][8].