Core Viewpoint - The successful sale of a residential land plot in Shenzhen's Qianhai area for 2.155 billion yuan, with a premium rate of 86.1%, indicates strong market recognition for core area land, setting a new record for floor price in Shenzhen [2][4]. Summary by Relevant Sections Land Sale Details - The land plot was sold for a total price of 2.155 billion yuan, with a floor price of approximately 84,180 yuan per square meter, breaking the previous record for residential land in Shenzhen [2]. - The starting price for the land was 1.158 billion yuan, and the bidding attracted over ten real estate companies, demonstrating high demand for residential land in core areas of Shenzhen [2]. Market Context - The Qianhai area has not seen residential land supply for four years, leading to a scarcity of new homes available for sale, which enhances the attractiveness of this land plot [2]. - The land sale conditions, including "land transfer upon delivery of certificates" and requirements for construction to start within one year and complete within four years, provide developers with a manageable risk profile and align with current market preferences for predictable returns [2]. Developer Insights - The winning bidder, China Merchants Shekou Industrial Zone Holdings Co., has extensive experience in Qianhai development and aims to leverage this land for multi-dimensional development, including residential, commercial, and industrial projects [4]. - The flexibility in pricing for the residential units on this land, unlike other Qianhai plots with price caps, allows developers to adapt to market conditions, potentially establishing this site as a benchmark project in the area [3]. Market Trends - The high premium and floor price reflect ongoing strong demand for land in Shenzhen's core areas, with a noticeable divergence in the land market where core areas remain highly sought after while non-core areas show less activity [4]. - The successful transaction is expected to boost confidence in the Qianhai residential market and indicates a resurgence in the core residential land market in Shenzhen [4].