Core Insights - The Guangzhou South Avenue Phase II land plot was publicly auctioned on October 9, 2023, and was won by China Overseas Land & Investment with a total price of 920 million yuan, reflecting a premium rate of 6.98% and a floor price of approximately 15,285 yuan per square meter [1] - The land plot is strategically located near major roads and commercial areas, with a total area of 34,177.93 square meters, including residential, commercial, and service facilities [1] - The floor price of the Phase II plot is significantly lower than the Phase I plot sold three years ago, which had a floor price of 48,395 yuan per square meter, indicating a notable change in market conditions [1] Market Analysis - According to industry expert Xiao Wenxiao from CRIC, the floor price of the Phase II plot aligns with the current market conditions in the Haizhu District, where the average transaction price for new residential properties has decreased from 87,601 yuan per square meter in 2022 to 67,414 yuan per square meter in 2023, a drop of nearly 20,000 yuan [2] - In the first nine months of 2023, Guangzhou has seen a significant increase in land transactions, with 22 residential land plots sold, totaling a construction area of 1.1663 million square meters and a total transaction value of approximately 21.2 billion yuan, compared to 15 plots and 1.7924 million square meters in the same period last year [2]