Hangzhou adjust the land supply rules: cancel the hook, the second high price, “to leave a certain profit space for housing enterprises”

2022-04-24 0 By

As far as the Hangzhou government is concerned, the cancellation of the application list is to further stabilize land prices and reduce the intensity of bidding for each piece of land.China Real Estate News reporter Xu Qian Beijing reported that after the end of February online announcement was urgently withdrawn, Hangzhou 2022 for the first time centralized land supply finally came.On March 23, Hangzhou Municipal Bureau of Planning and Natural Resources released the announcement of the centralized sale of the first batch of residential land in Hangzhou in 2022, with a total of 60 plots, covering a total area of 3,849 mu, and a total starting price of about 79.758 billion yuan.What attracts much attention is that Hangzhou will adopt the new bidding rules of land auction – land price to reach the maximum price after no longer directly lottery, but through the line “a bid + lottery”, and “to determine the principle of the second highest bid winner”.This kind of competition is the first in the country.The reporter learned that Hangzhou also cancelled the “50 million yuan application deposit” policy, which was restarted in the three batches of land supply last year, and replaced it with “bidders can participate in the bidding after paying 20% deposit of the initial total price of the land in full on the deadline of registration”.Take the xiaoshan district will sell a commercial and residential land as an example, the initial price of about 1.931 billion yuan, 20% margin means that housing enterprises to pay up to 386.2 million yuan.”Housing enterprises need more funds in the early stage, which is equivalent to a significant increase in the threshold to take land.As far as the Hangzhou government is concerned, the cancellation of the application list is to further stabilize the land price and reduce the intensity of bidding for each piece of land.After all, in last year’s three batches of concentrated land supply, the whole country is not very prosperous, Hangzhou soil auction is unique competition is very fierce.Crerui Zhejiang regional consulting business project manager Shen Li told China real estate reporters.In the last land auction in Hangzhou, on December 21, 2021, the bidding rule was that the land premium rate would reach 10% and then the lottery would be carried out.Hangzhou this year in the first round of land supply rules, also set the land price suspension (premium 10%), and the ceiling price (premium rate is not higher than 12%), but after the top is not directly lottery, but into a one-time quotation link, that is, housing enterprises only a quotation opportunity, the quotation range is locked in the starting price 110%-112%.Specifically divided into three stages: the first stage, when the land bidding did not reach the stop price, according to the principle of the highest price to determine the winner.The second stage, when the price of land bidding to suspend, to suspend the online bidding, turned on the basis of this price through offline once offer ways to determine the competitive gadites, setting fixed price range, once any offer should be within the range ten thousand yuan integer, to determine competitive person, to the principle of higher price for this be determined as the quotation final offer.The third stage, if a number of housing enterprises are quoted at high prices, then into the line notary lottery.Shen Li analysis that last year, Hangzhou three batches of centralized land for the use of the lottery, the land of the housing enterprises more rely on luck, at that time there are many foreign housing enterprises, did not do real estate projects in Hangzhou before, but because of good luck, got a lot of high-quality land.Now the new bidding method, rely on the ability and luck combination, the test is the comprehensive ability of housing enterprises.The premium rate of 12% capped, lower than the 15% ceiling stipulated by the Ministry of Natural Resources, is also to ensure a certain profit margin for housing enterprises.The reporter noted that previously Shanghai, Nanchang and other cities used the “one-time offer” for land auction precedent, but with Hangzhou “second high price” is different, these cities basically use “according to the principle of the most close to the average value of all offers to determine the selection of the competition”.In this round of Hangzhou land supply, the pre-announcement and “land listing” have been cancelled, instead of a direct formal announcement.The so-called “hook”, that is, housing enterprises and do units to sign an agreement and pay the security deposit (generally not more than 50 million yuan), when the land is shot if there is no other housing enterprises bid, hook to the housing enterprises must hold the bottom.Last year, hangzhou’s second centralized land supply once cancelled the pre-announcement, but after more than half of the land failed to auction, Hangzhou’s third batch of centralized land supply adjusted the land auction rules, including restarting the pre-announcement and “land application”, each “application” capital is not more than 50 million yuan.At that time, greentown as the head of the Yangtze River Delta housing enterprises, a total of 20 applications to participate in them;The number of enterprises applying for hot land blocks has reached 10.This time, Hangzhou cancelled the pre-announcement and check list again, and directly adopted the registration deposit mode, which is less early action under the table.However, the deposit has changed from 50 million yuan to 20% of the initial price of the plot, which is not a small figure for the initial price of the plot, which is often more than one billion yuan.Hangzhou first round of land, the same to take “quality” selling, compared with last year clear two points: one is the requirement of building height 3 meters;The second is to require the construction of 4 meters high overhead layer.According to the previous routine projects, most of hangzhou just need real estate height is 2.9 meters, high quality projects will consider the height of 3 meters;Many projects in order to save costs, mostly cancelled the overhead design.The addition of this provision is also to ensure the quality of the new housing supply in Hangzhou in the future.In this round of land supply, Hangzhou also made requirements for housing enterprises’ bidding qualifications and land purchase funds.According to the bidding requirements, the member enterprises of the same group are not allowed to bid for the same land at the same time (including joint bidding).This includes wholly-owned companies, holding companies and shareholding companies associated with group companies.Shareholders of bidding enterprises shall not provide loans, loan transfers, guarantees or other relevant financing facilities to them in violation of regulations.Purchase money may not directly or indirectly use financial institutions of all kinds of financing funds, purchase funds shall not use the real estate industry chain upstream and downstream associated enterprises loan or advance payment, purchase funds shall not be used other natural person, legal person, unincorporated organization borrowing, land capital participating in the bidding enterprise shall be used for control of real estate enterprises financing and so on.Hangzhou’s first round of 60 residential land auctions, with a total floor area of 5.8074 million square meters and a total starting price of 79.8 billion yuan, will be completed within a day on April 25.The land with the highest starting price is located in Shangcheng District, with a floor area of 118,600 square meters and a starting price of 3.817 billion yuan.In terms of regional distribution, there were 16 cases in Xiaoshan District, 11 cases in Yuhang District, 10 cases in Linping District, 6 cases in Qiantang District, 5 cases in Shangcheng District, 4 cases in Lin ‘an District, 3 cases in Gongshu District, 2 cases in Xihu District, 2 cases in Fuyang District and 1 case in Binjiang District.The reporter found that the core area of hangzhou’s main city (West Lake, arch villa, shangcheng, binjiang) is relatively small, 11 cases, about 16%;The suburban area is the key area of land supply, such as Yuhang, Xiaoshan, Linping, Qiantang district, about 75% of the total amount of land supply;Fuyang district, Lin ‘an district, accounting for about 9%.This is consistent with the layout of “vigorously developing the sub-city” in hangzhou’s “14th Five-Year Plan”.According to the reporter’s interview, the main force in the land market of Hangzhou is mainly state-owned central enterprises and local leading housing enterprises, such as Binjiang, Greentown, “we mainly serve state-owned central enterprises, Hangzhou first round of centralized land supply, they pay more attention to is still located in the core area of the main city of this dozen parcels.”An enterprise insider said, private housing enterprise enthusiasm is not high.Last year, the third batch of centralized land supply in Hangzhou launched a total of 51 plots, of which 23 are located in the main urban area, which is also an important reason to attract many real estate enterprises to come to grab.At that time, when most of the transactions in the national land market were made at the bottom price and frequent auctions occurred, the third batch of land offering in Hangzhou collected 75.9 billion yuan on the first day, and all 35 parcels were completed without first-class auctions, with an overall premium rate of 7%.Last year, the land transfer fee of Hangzhou reached 302.99 billion yuan, a record high, with a year-on-year increase of about 20%, ranking second only to Shanghai in China.This is no accident.In the past five years, the land market in Hangzhou has been hot.From 2016 to 2020, hangzhou’s land sales revenue totaled more than 1 trillion yuan, the highest in the country.The temperature of the first-level land market directly determines the rise and fall of housing prices, and hangzhou’s housing prices are far ahead of other cities of the same level, and relatively strong.Among 70 large and medium-sized cities released by the National Bureau of Statistics in February, Hangzhou was one of the few cities where the prices of both new and second-hand homes rose.In February, hangzhou new house sales prices rose 0.4% month-on-month, 0.6% year-on-year;Resale prices rose 0.2% month-on-month and 4.6% year-on-year.”Hangzhou adjusted the pace and mode of land supply, more in line with the general tone of ‘housing not speculation’, in order to ensure the quality of real estate at the same time, to leave a certain profit space for housing enterprises.”Shen li predicted that this year’s first round of land auctions in Hangzhou will not be as hot as before, because the new rules are more stringent and the land offered is mainly in the suburbs.For housing enterprises, the challenge of taking the land is also greater.In the long term, Lu Wenxi, a shanghai-based zhongyuan market analyst, told China Real Estate News that Hangzhou’s market competitiveness and attractiveness to the population are still strong, which means demand for hangzhou’s property market will continue to increase.This time, some optimization and refinement of land rules are carried out to ensure the fairness of full competition in the market, so that everyone has the opportunity to take the land, and avoid “monopolizing” the land market.