Beijing Sun Palace plot adjustment and re-transfer: Pure residential land attracts 20 real estate companies to bid for auction
Recently, the Beijing Municipal Planning and Natural Resources Commission issued an announcement to plan and adjust the Sun Palace plot and relist and sell it. After the plot was adjusted to pure residential land, it quickly attracted market attention and attracted 20 well-known real estate companies including Vanke, China Overseas, Poly, China Resources, etc. to participate in the auction. This phenomenon reflects the scarcity of high-quality plots in the core area of Beijing and the long-term optimism of real estate companies for the residential market.
Basic information about plots
| project | data |
|---|---|
| Plot location | Chaoyang District Sungong Township |
| Land use nature | Pure residential land (originally mixed land) |
| Land area | About 45,000 square meters |
| Planned building area | About 108,000 square meters |
| Starting price | 5.5 billion yuan |
| Number of bidding companies | 20 companies |
Background of regulation and market reaction
The planning adjustment of the Sun Palace plot this time mainly involves changes in the nature of the land use. According to the announcement of the Beijing Municipal Self-Scheme Commission, the plot has been adjusted from the original mixed land (including commercial, office, etc.) to pure residential land. This adjustment significantly increases the attractiveness of the plot because:
1. Pure residential land is scarce in the core area of Beijing, and the supply and demand contradiction is prominent;
2. Pure residential projects are sold faster and the capital recovery cycle is short;
3. Under the current market environment, residential products have stronger risk resistance.
Among the 20 real estate companies participating in the auction, they include not only leading developers with central enterprises backgrounds, but also some local state-owned enterprises and private real estate companies. Industry insiders analyzed that this reflects the long-term optimism of real estate companies for the high-end residential market in Beijing.
Regional Value Analysis
| index | data |
|---|---|
| Average price of new houses around | 120,000-150,000 yuan per square meter |
| Average price of second-hand houses around | 90,000-110,000 yuan/square meter |
| The nearest subway station | Metro Line 10 Sun Palace Station (about 800 meters) |
| Surrounding educational resources | Chaoyang School, Chaoyang Foreign Language School, etc. |
| Commercial packages | Cade MALL, Sun Palace Square, etc. |
Market impact and future prospects
The sale of this plot will have multiple impacts on the Beijing real estate market:
1.The land market is getting hot: Fierce competition for high-quality plots may drive the activity of land markets in other regions;
2.House price expectations management: The emergence of high-priced land may support surrounding housing prices;
3.Product Positioning: Developers are expected to create high-end improved products to meet market demand.
It is worth noting that this sale sets a dual competition rule of "competing for land prices and quality", requiring that the residential construction quality plan be reported after the upper limit of land prices is reached. This mechanism will help improve the quality of residential buildings and promote high-quality development of the real estate market.
List of real estate companies participating in bidding (partial)
| Types of real estate companies | Company Name |
|---|---|
| Central enterprises | China Overseas, China Resources, Poly, China Merchants Shekou |
| State-owned enterprises | Shoukai, Urban Construction, and Mainland China |
| Private enterprises | Vanke, Longfor, Sunac |
| Mixed all | Greentown, Golden Land |
Industry experts pointed out that the final transaction price of the Sun Palace plot is expected to exceed 7 billion yuan, and the floor price may reach more than 65,000 yuan per square meter. This price level will hit a new high for residential land in Beijing this year, and also provides an important reference for subsequent market trends.
With the continuous advancement of Beijing's urban renewal, the competition for high-quality plots in the core area will become more intense. Developers need to comprehensively improve their product strength, financial strength and operational capabilities in order to gain an advantage in the fierce market competition. For home buyers, the entry of such high-end projects will also provide more high-quality options.
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