近段时间以来，深圳的土地供应速度显著提升。与此同时，多个城市积极推出小地块，供地策略 有所转向。 8月4日，深圳宝安沙井一宗住宅用地出让，吸引了华润、中海、越秀及绿城四家房企激烈角逐，最终由绿城 以总价12.15亿元竞得，折合楼面价约每平方米20363元，溢价率约11.5%。 李宇嘉认为，包括深圳在内的热点城市，近期出让的土地均呈现小型化、位于中心区的特征，主要原因在于市 场变化快，只有小地块才能满足尽快开发、尽快销售、尽可能消除不确定性等要求。 就在7月30日，南京举行新一轮集中供地，共出让13宗涉宅用地，体量小、区位优的迷你地块受到青睐，成为 本轮土拍的焦点。具体来看，热度最高的地块为鼓楼区江汉东街地块，该地块建设用地面积仅4216平方米， 经过89轮激烈竞价，最终由温州千亿房地产开发有限公司以3.73亿元竞得，溢价率高达32.74%。 值得注意的是，"缩量提质"正成为全国土地市场的整体趋势。克而瑞的报告指出，面对行业库存压力，地方政 府供地策略呈现两大特征：一是总量持续收缩；二是结构优化加速，核心城市通过降低容积率、聚焦优质地块 实现"缩量提质"。 中指研究院的数据显示，今年前7个月300城住宅用地成交 ...

Core Insights - The land auction market in core cities has shown sustained high activity since 2025, driven by improved new housing market conditions and increased supply of quality land [1][6] - In the first half of 2025, the total land transfer revenue from residential land in 300 cities increased by 27.5% year-on-year, with first and second-tier cities seeing growth rates exceeding 40% [1][5] - Major cities like Beijing and Hangzhou reported land transfer revenues exceeding 100 billion yuan, indicating strong demand for residential land [5][6] Land Market Performance - The total planned construction area for residential land in 300 cities decreased by 19.4% year-on-year, while the transaction area fell by 5.5%, although the decline was less severe compared to the previous year [5] - First-tier cities showed positive investment trends, with residential land planned and transaction areas increasing by 18.3% and 20.9% respectively, and land transfer revenue rising by 49.5% [5] - Second-tier cities also experienced growth, with transaction area and land transfer revenue increasing by 18.3% and 43.5% respectively, and an average premium rate of 13.6% [5] Policy and Supply Dynamics - Cities are optimizing land auction policies to enhance participation from real estate companies, focusing on increasing the supply of quality land in core areas [7][8] - Specific measures include allowing installment payments for land transfer fees and expediting project approvals for companies that pay a portion of the land price upfront [7] - The "good housing" initiative has led to relaxed planning conditions, promoting the construction of eco-friendly residential projects [7][8] Market Outlook - The competitive landscape for land auctions in core cities is expected to intensify, with high premiums for desirable plots [8] - The "reduced quantity, improved quality" approach in land supply is anticipated to continue, particularly in major cities like Beijing, Shanghai, and Chengdu [8] - In contrast, third and fourth-tier cities may continue to see lower demand, with land transactions primarily occurring at base prices [8]

Core Points - The auction for land parcel A817-0619 in Shenzhen concluded with a final bid of 1.212 billion yuan, reflecting a premium of 46.55% over the starting price of 827 million yuan [1][3] - The land area is approximately 10,900 square meters with a total construction area of 27,200 square meters, characterized by a low plot ratio of 2.5, which is rare in recent land sales in Shenzhen [1][3][4] - The land is part of Shenzhen's response to the Ministry of Housing and Urban-Rural Development's new residential project standards, which aim to regulate plot ratios and promote smaller, more manageable land parcels for development [2][5] Land Market Trends - The recent land auction indicates a shift towards smaller, centrally located land parcels in Shenzhen, driven by rapid market changes and the need for quicker development and sales [2][7] - The A817-0619 parcel's high premium suggests developers' long-term value recognition of the core area in Longhua District, with potential for mixed-use development to enhance regional competitiveness [3][4] - The land supply strategy in Shenzhen has shifted to prioritize quality over quantity, with a focus on mature plots that allow for immediate construction and sales, thereby reducing uncertainty for developers [8] Future Developments - Following the successful auction of A817-0619, three more residential land parcels are set to be auctioned, continuing the trend of smaller land offerings [7] - The upcoming T201-0232 parcel, with a starting price of 1.158 billion yuan, is located in the Qianhai Cooperation Zone and is expected to attract significant interest due to its advantageous location and development flexibility [7][8] - The overall land supply in Shenzhen has accelerated since May, with a notable increase in the number of smaller, low-density plots being made available for development [8]

Core Viewpoint - The article discusses the recent housing development plans released by various cities in China, highlighting a trend of reduced supply of commercial housing land and a shift towards optimizing housing supply and increasing housing security measures [1][3][6]. Group 1: Commercial Housing Land Supply - Beijing plans to supply 240-300 hectares of commercial housing land this year, a decrease from last year's lower limit of 300 hectares [3]. - Chengdu's new commercial housing land supply is set at 9,000 mu, down by 2,500 mu, representing a decline of approximately 21.7% compared to last year [3]. - Hangzhou's residential land supply plan for this year is 517.32 hectares, a reduction of 271 hectares, or about 34.4% from last year [4]. Group 2: Housing Security Measures - Many cities are adjusting their targets for the construction of affordable housing, with Beijing planning to build 50,000 rental housing units this year, down from 70,000 last year [8]. - Tianjin's plan includes 358 units of affordable housing, significantly lower than last year's target of 7,000 units [8]. - The focus is shifting towards acquiring existing commercial housing for use as affordable housing, which aligns with the current market conditions and aims to alleviate inventory pressure [9][10]. Group 3: Market Dynamics - The reduction in land supply is seen as a strategy to balance market supply and demand, with cities aiming to enhance land quality and optimize supply structure [5]. - Analysts indicate that the focus on land quality and location will significantly impact developers' costs and market demand for projects [5]. - The trend of reducing affordable housing construction targets does not imply a decrease in overall supply, as cities are diversifying sources of affordable housing [9][10].