Core Insights - Xiamen's recent land auction on September 23 resulted in the sale of four residential land parcels for a total of 81.25 billion yuan, all sold at the base price [1] - The land parcels are located in both island and offshore areas, with significant participation from state-owned enterprises, indicating a stable market force [3] Group 1: Land Auction Details - The four land parcels sold include two in the Siming and Huli districts with starting residential floor prices of 40,000 yuan per square meter, and two in the Jimei and Haicang districts with starting prices of 22,000 and 18,000 yuan per square meter respectively [1] - Xiamen Guomao Real Estate Co. won the Siming district parcel for 22.20 billion yuan, while Jianfa Real Estate Group acquired the Huli district parcel for 20.38 billion yuan [1] Group 2: Market Dynamics - The Xiamen real estate market shows signs of support, with new residential sales area reaching 1.4975 million square meters in the first half of 2025, a year-on-year increase of 24.6% [2] - The market is characterized by a differentiation in sales performance, with prime locations experiencing faster sales while ordinary projects face longer sales cycles [2] Group 3: Role of State-Owned Enterprises - State-owned enterprises are becoming a stabilizing force in the land market due to their financial strength and urban development experience [3] - The active participation of these enterprises in land acquisition is expected to stabilize market expectations, although overall market confidence recovery will take time [3]