Core Insights - Chengdu has sold two residential land parcels, generating a total revenue of 53.4 billion yuan, ranking fourth nationally after Hangzhou, Beijing, and Shanghai [1][4] - The land parcels are located in prime areas with mature infrastructure, attracting significant attention prior to the auction [2] Summary by Sections Land Sale Details - The first parcel in Chenghua District has a total land area of 40,038.52 square meters and a planned construction area of 80,077 square meters, with a starting floor price of 14,800 yuan per square meter and a starting price of 1.185 billion yuan. It was ultimately acquired by Yuexiu at a floor price of 16,500 yuan per square meter, totaling 1.321 billion yuan, with a premium rate of 11.49% [2] - The second parcel in Jinjiang District is a smaller "mini" plot of approximately 6 acres, with a planned construction area of 10,067.42 square meters and a face price of 18,100 yuan per square meter. It was acquired by Renhe for 181 million yuan [2][3] Market Context - The Chenghua District parcel is expected to enhance community integration with existing projects, as it is adjacent to Yuexiu's previous developments [2] - The Jinjiang District parcel, despite its small size, is located in a well-established area with multiple metro lines and commercial centers, which may pose challenges for developers in creating a cohesive community [3] Market Performance - In 2023, the average transaction price for new homes in Jinjiang District was approximately 40,667 yuan per square meter, with an average total price of 7.66 million yuan, maintaining the highest position in Chengdu [4] - From January to September 2023, Chengdu's residential land sales totaled 64 parcels, generating 53.4 billion yuan, with a 39% increase in land area sold compared to the previous year and an average premium rate of 25.2%, reflecting heightened interest in core area land [4]