Core Insights - The article highlights the recent land auction in Shenzhen, where major developers are actively competing for prime residential land, indicating a robust demand in the real estate market [2][5][12]. Group 1: Land Auction Highlights - China Merchants Shekou acquired a residential plot in Qianhai at a record floor price of approximately 84,000 RMB/m², marking the highest land price in the past decade [2]. - Greentown won the A319-1225 plot in Bao'an with a premium of 11.47%, translating to a floor price of about 20,364 RMB/m² [2][5]. - The A319-1225 plot attracted four top-tier real estate companies, with over 29 bidding rounds, showcasing intense competition [6][12]. Group 2: Plot Characteristics - The A319-1225 plot is located in the mature ShaJing area, featuring established infrastructure and amenities, including proximity to the Shenzhen Metro Line 11 [11][12]. - The plot covers an area of approximately 19,246.94 m² with a total construction area of about 59,665 m², resulting in a low plot ratio of approximately 3.1, appealing for improvement projects [11][12]. - The site is subject to aviation height restrictions and must include a green space system to mitigate noise pollution from nearby roads [11][12]. Group 3: Market Context and Future Prospects - The ShaJing area currently lacks new housing supply, with the average price of second-hand homes around 55,000 RMB/m², indicating a strong market opportunity for Greentown's new project [13]. - Greentown's recent projects in Guangzhou have performed well, suggesting that the company could replicate this success in Shenzhen, leveraging the favorable conditions of the new plot [15][18]. - The urgency of Greentown's actions, including starting construction on the same day of the land acquisition, reflects its ambition to establish a strong presence in the Shenzhen market [18].

Core Viewpoint - The sales performance in the Nai Xi area of Beijing is declining, with newer projects experiencing slower absorption rates compared to earlier developments, despite the overall property prices remaining firm [1][12]. Sales Performance - The Nai Xi area has developed four residential projects, primarily named after Wangjing, indicating a spillover effect from the Wangjing market [3] - The absorption rates for Beijing Chengjian Wangjing Guoyufu and Jinyu Wangjing Yunshang are 35.6% and 30.5%, respectively, as of late May [9] - Jinyu Wangjing Yunshang achieved sales of 1.16 billion yuan shortly after its launch, although this performance has not yet been fully reflected in the official signing data [9] Market Conditions - The overall market environment has cooled, with buyers becoming more selective, particularly due to transportation issues in the Nai Xi area [10] - The proximity to better-developed areas like Haidian has diminished the appeal of Nai Xi, which was once considered a hot market [11] Pricing Trends - Despite the declining sales, property prices in the Nai Xi area remain stable, with no current plans for price reductions from developers [12][13] - The average price for Jinyu Wangjing Yunshang is around 82,840.59 yuan per square meter, while Beijing Chengjian Wangjing Guoyufu is priced at approximately 89,000 yuan per square meter [9][12] Developer Insights - Developers maintain that the quality of the projects and the surrounding environment are favorable, contributing to the current pricing stability [12] - There is a belief among some real estate agents that the Nai Xi area may take until 2030-2035 to fully mature, indicating a long-term development perspective [11]