Last week, the property market as a whole rose month-on-month, year-on-year, and the rise and fall were. 66%。The overall month-on-month increase in all tiers of cities, with the largest increase in first-tier cities. Overall inventories fell slightly month-on-month. The overall supply and demand of land increased month-on-month, the amount of residential land increased by nearly sixty percent, the overall average price rose compared with last week, and the average price of residential land doubled. The financing type of real estate enterprises is mainly medium-term notes, and the cities where real estate enterprises acquire land are concentrated in Beijing, Guangzhou, Xi'an, Taizhou, Huzhou and other cities.
Policies:The central bank cut interest rates by 25 basis points, and the LPR for more than 5 years was 395%。According to the Ministry of Housing and Urban-Rural Development, 214 cities in 29 provinces have established a real estate financing coordination mechanism.
Transactions:The property market as a whole rose month-on-month, year-on-year, and the rise and fall were. 66%。The overall month-on-month increase in all tiers of cities, with the largest increase in first-tier cities.
Land:The total amount of transfer fees increased, led by Beijing's collection of more than 13.3 billion. Transactions in second-tier cities are active, with more than 1.6 billion yuan in Hefei launching 3 new homes.
Note: Due to the Spring Festival holiday, most of the following cities have higher month-on-month increases, and will not be separately explained in the future.
Transactions:
Transactions:Overall month-on-month **21598%, with the largest increase in first-tier cities
Note: Since (8.)6-8.12) Begin to monitor the expansion of the urban area (increase in the part.
third- and fourth-tier cities).
Data**:Middle finger data creis
Weekly Overall:The overall month-on-month increase and year-on-year decline were down, and the year-on-year decline in first- and second-tier cities was obvious
Data**:Middle finger data creis
Tier 1 cities:The overall transaction area increased by 2,611 month-on-month62%, Guangzhou rose the most
Last week, the overall transaction area of first-tier cities increased by 2,611 month-on-month62%, a year-on-year increase of **6564%。In terms of cities, the transactions of first-tier representative cities were all ** month-on-month, of which Guangzhou had the highest increase, at 46103%。Year-on-year, the overall year-on-year decline, Guangzhou fell the most by 726%。
Table: Year-on-year comparison of transaction area in first-tier cities
Data**:Middle finger data creis
Second, third and fourth-tier cities:The overall month-on-month average was **, and the year-on-year decreased
The second-tier represents the overall transaction area of the city, which is 1796 month-on-month32%。In terms of cities, all cities were ** month-on-month, with Nanjing having the largest increase (11961.).04%), followed by Suzhou (3067.).4%）。On a year-on-year basis, the second-tier cities as a whole decreased by 61 year-on-year92%。The third and fourth tier cities as a whole are month-on-month**year-on-year**, and the declines are respectively. 82%。
Chart: Month-on-month increase and decrease in transaction area in second- and third-tier key cities
Data**:Middle finger data creis
Inventory:This week's total inventory decreased slightly month-on-month
The overall inventory of the seven representative cities monitored decreased slightly by 0 month-on-month53%。Among them, the inventory in the first-tier cities and Shanghai was slightly ** month-on-month, with an increase of 074%；Beijing, Shenzhen, Guangzhou**, the declines were. 5%。Among the second-tier cities, Suzhou's inventory increased by 011%。
Data**:Middle finger data creis
Commercial office
Shenzhen Pingshan is an industrial clusterOn February 21, Pingshan District, Shenzhen held a conference on high-quality economic development and released a series of policy documents on industrial exhibitions. Among them, the "Opinions of the People of Pingshan District on Building Industrial Clusters with International Competitiveness and Cultivating Industrial Clusters with Development Potential" proposes that Pingshan District will cultivate and develop "6+3" industrial clusters, including six internationally competitive industrial clusters such as intelligent networked vehicles, semiconductors and integrated circuits, high-end medical devices, biomedicine, new energy, and intelligent terminals, as well as three industrial clusters with development potential, such as cells and genes, low-altitude economy and aerospace, and culture, sports and tourism. According to the plan, by 2025, Pingshan District will initially be built into an innovation highland for the development of strategic emerging industries in the Greater Bay Area, and by 2030, a number of industrial clusters with international competitiveness and development potential will be formed. In order to achieve this goal, Pingshan District will continue to adhere to the development idea of establishing an industrial zone and a strong manufacturing area, deepen the system of "one industry, two plans and two policies", and promote strategic emerging industrial clusters and future industrial development. In recent years, Pingshan District has developed rapidly in economic development, and the proportion of industrial added value in the regional GDP has been increasing. In 2023, the total industrial output value above the designated size in Pingshan District will exceed 500 billion yuan, and strategic emerging industries will account for 95% of the total industrial output value above the designated size. Yang Jun, secretary of the district party committee, stressed at the meeting that Pingshan District will further promote new industrialization, cultivate and develop new quality productive forces, and strive to win the development trend with industrial progress. In the future, Pingshan District will continue to consolidate the hard-core support for high-quality economic development and make greater contributions to Shenzhen's construction of a world-leading and important advanced manufacturing center.
The industrial land preparation project in Baihua District, Shenzhen, started to be demolishedOn February 19, 18 parks (plots) of the land preparation project of contiguous industrial land in Baihua District, Guangming District, Shenzhen, totaled 46The centralized demolition of 110,000 square meters of buildings was launched. Scope of project implementation142 square kilometers, involving 706 buildings in 48 parks (plots), with a total construction area of 9870,000 square meters, 520 enterprises and 1 employee need to be moved520,000 people. After more than 10 months of overcoming difficulties, the contract rate was 100%, the lease clearance rate was 96%, the vacancy rate was 89%, and the cumulative demolition construction area was 40440,000 square meters. The land preparation project for contiguous industrial land in Baihua Area was officially launched on March 5, 2023. In May 2023, Guangming District issued the "Implementation Opinions on the High-quality Construction of Baihua Science and Technology Innovation Valley", which clarified that the Baihua District of Guangming Street will build a high-quality Baihua Science and Technology Innovation Valley, and create a "square kilometer-level" new industrial community and an industrial transformation area of Guangming Science City. According to the plan, about 3 square kilometers of construction land in the Baihua area will be included in the scope of Baihua Science and Technology Innovation Valley, and in accordance with the positioning of "a new highland for science and technology transformation, a new engine for industrial development, and a happy and livable new community", Baihua Science and Technology Innovation Valley will be built into a new benchmark for bright and high-quality development. In addition, in the new development pattern of "one heart, two wings and three pieces" shaped by Guangming Street, the Baihua District occupies an important wing of "two wings flying together". 80% of the industrial enterprises in Guangming Street are concentrated in Baihua Community, and the relocation of enterprises in the project has brought great challenges to local economic development. At present, there are 48 enterprises that intend to move back or stay in Guangming, with a total output value of about 6 billion yuan.
Jinke's bankruptcy reorganization was officially accepted by the courtOn the evening of February 21, Jinke Co., Ltd. issued a relevant announcement on the company's application for reorganization, stating that it had officially submitted the relevant information of the reorganization application to the Chongqing Fifth Intermediate People's Court. The reorganization application materials submitted by Jinke have been accepted by the relevant courts and have entered the stage of case filing and acceptance. It is expected to systematically resolve the company's debt risk and accelerate the realization of a virtuous cycle. Although Jinke is one of the few listed real estate companies to enter bankruptcy reorganization, it has only just handed over the stepping stone throughout the bankruptcy reorganization process. Since entering the industry cycle, it has been common for real estate companies to be wound up petitions and bankruptcy applications filed by creditors. Compared with other enterprises, Jinke is active and rapid in dealing with "bankruptcy reorganization". In May 2023, Jinke was first applied for reorganization by creditors. At that time, Chongqing Duanheng Construction believed that although Jinke could not pay off its due debts, it obviously lacked solvency. However, as a listed company, it still has a certain reorganization value, so it applied to the Chongqing No. 5 Intermediate People's Court for reorganization. At the end of June 2023, Jinke signed a strategic investment framework agreement with Great Wall Guofu, a wholly-owned subsidiary of Great Wall Asset Management, under which Great Wall Guofu intends to participate in the pre-reorganization procedure of Jinke shares independently or with other partners to form an investment consortium as a reorganization investor. According to the agreement between the two parties, if Jinke successfully enters the pre-reorganization or reorganization procedure, Great Wall Guofu and its designated affiliates will intend to apply for the competitive selection as strategic investors during the public recruitment of strategic investors. In the reorganization announcement disclosed by Jinke later, the figure of Great Wall Guofu appeared frequently. In the second half of 2023, Jinke maintained a continuous update of the reorganization action, with an average of new news and dynamic disclosures every month. Until the end of October last year, a special team composed of Jinke and Great Wall Guofu officially began to prepare the application documents for reorganization and pre-reorganization, and the reorganization action entered a short quiet period. On February 21, Jinke completed the submission of relevant materials for the reorganization application to the Chongqing No. 5 Intermediate People's Court. With the acceptance of the case by the court, it can be regarded as the first step on the road of reorganization. Submission of reorganization materials to the local court is the first step after applying for bankruptcy reorganization, and the subsequent review and ruling by the court, voting on the reorganization plan and approval of the plan by the court can officially enter the debtor's execution stage.
Link REIT acquires the remaining interest in Shanghai Qibao Vanke PlazaOn 20 February, Link Real Estate Investment Trust** announced that it had completed the acquisition of the remaining 50% stake in Qibao Vanke Plaza. Pursuant to the share purchase agreement, the transaction was completed on February 20, 2024. Thereafter, Link REIT will hold 100% of the equity interest in the target company, i.e. all effective saleable legal beneficial ownership of the property, through the purchaser's full statutory beneficial ownership of the target shares, plus the 50% equity interest originally held. On 9 February, Link REIT announced that it had signed a share purchase agreement with the vendor to acquire the remaining 50% interest in Qibao Vanke Plaza, a property in Qibao Town, Minhang District, Shanghai, China, through its indirect wholly-owned special purpose vehicle. The property is a five-storey shopping mall with a total area of approximately 148,85284 square meters with 1,477 parking spaces. Pursuant to the share purchase agreement, Link REIT will pay an amount equivalent to the final base price, which is expected to be RMB23$8.4 billion as the acquisition consideration. Link REIT already held an additional 50% interest in the property prior to the date of the announcement and upon completion of the acquisition, Link REIT will become the sole owner of the property.
Land:
Overall:The overall supply and demand rose month-on-month, led by Beijing's gold collection of more than 13.3 billion
The overall supply and demand increased month-on-month, the amount of residential land increased by nearly sixty percent, the overall average price rose compared with last week, and the average price of residential land doubled. The total amount of transfer fees increased, led by Beijing's collection of more than 13.3 billion. Transactions in second-tier cities are active, with more than 1.6 billion yuan of new residential land in Hefei.
Table: Land market situation in 40 large and medium-sized cities (at the municipal level).
Data**:Middle finger data creisCities of all tiers:The overall supply and demand in first-tier cities increased month-on-month, while the volume and price of transactions in second-tier cities both declinedThe overall supply and demand of first-tier cities increased month-on-month, the volume and price of transactions both rose, and the transaction volume of residential land increased significantly, and only Shenzhen had residential land**. In second-tier cities, the overall supply and demand were higher than last week, the average transaction price and revenue were lower, the transaction volume of residential land fell by more than 70%, and the transfer fee fell by nearly 60% month-on-month. Assignment Fee:The total amount of the list increased by nearly eighty percent, and Beijing topped the list with more than 13.3 billion yuanThe total amount of the list increased by nearly eighty percent, and the threshold for the list was 3200 million yuan. The horizontal differentiation of the plots on the list is more obvious, and Beijing has collected more than 13.3 billion yuan, ranking first on the list.
TOP10 transfer money (city-level data).
Data**:Middle finger data creisTOP5 of the total price of residential land:The total amount of the list has risen, and Beijing occupies four places on the listThe total amount of the list has increased by more than 80% compared with last week, and the horizontal differentiation of the plots on the list is more obvious, with Beijing City occupying four seats on the list, led by nearly 4.9 billion yuan in residential land collection in Daxing District, Beijing.
Table: Top 5 in total transaction prices for residential use in China
Data**:Middle finger data creisTOP5 unit price of residential land:The average price of the list is higher, and Beijing occupies four places on the listThe average price of the list increased month-on-month, and the threshold for entering the list rose to 21,330 yuan, with Beijing occupying four seats on the list, and residential land in Haidian District, Beijing, leading the way.
Table: Top 5 residential land floor prices in China
Data**:Middle finger data creisNewly launched plots of interestThis week, Beijing launched four land parcels with a total starting price of more than 4.9 billion yuan. Baoding has launched 16 new plots, with a total planned building volume of nearly 1.13 million square meters. 
Data**:Middle finger data creisEnterprise
The financing type of real estate enterprises is mainly medium-term notes, and some enterprises obtain funds through ultra-short-term financing bonds, corporate bonds, ABS, etc. Real estate enterprises are concentrated in Beijing, Guangzhou, Xi'an, Taizhou, Huzhou and other cities. Among them, China Construction One Product with 487.6 billion yuan to shake the Xihongmen plot in Daxing.
Investment and Financing:China Railway Construction Real Estate plans to issue the first phase of medium-term notes in 2024 with a maximum scale of 1.5 billion; China Construction One Product with 487.6 billion yuan to shake the Xihongmen plot in Daxing.
The financing types of real estate enterprises are mainly medium-term notes, and some enterprises obtain funds through corporate bonds, ultra-short-term financing bonds, ABS, etc. Among them, on February 22, China Railway Construction Real Estate Group released the issuance documents of the first phase of medium-term notes in 2024. The registered amount of the issuer's medium-term notes is 3 billion yuan, the basic issuance amount of this bond is 0 billion yuan, and the upper limit of the issuance amount is 1.5 billion yuan. The issuance period of the medium-term notes is 3+2 years (the issuer's option to adjust the coupon rate and the investor's resale option are attached at the end of the third interest-bearing year of the duration), and the issuance interest rate is determined according to the results of bookbuilding, with the issuance date from February 26 to February 27, 2024, and the value date is February 28; On February 21, Shenzhen Tianjian (Group) Co., Ltd. announced the issuance of its first phase of ultra-short-term financing bonds in 2024. According to the announcement, the group has been registered by the National Association of Financial Market Institutional Investors of China and has the right to issue ultra-short-term financing bonds of no more than 8 billion yuan. On February 20, 2024, Tianjian Group issued the first tranche of ultra-short-term financing bonds of this year, which is referred to as "24 Tianjian Ji SCP001". The maturity of the bonds is set at 268 days, and the value date is set at 15 November 2024 for the 2024 redemption date. The total planned amount of the issuance is 1.5 billion yuan, and the actual total issuance has reached 1.5 billion yuan, and the issuance ** is set at 100 yuan per 100 yuan, and the issuance interest rate is 232%。The lead underwriters are China Merchants Bank shares*** and Industrial Bank shares*** Regarding the use of funds, the announcement pointed out that the issuance funds of this financing bond will be used to repay the company's second phase of ultra-short-term financing bonds in 2023.
Last week, real estate companies mainly gathered in Beijing, Guangzhou, Xi'an, Taizhou, Huzhou and other places, among which, on February 22, Beijing Haidian Cuihu HD00-0305-0024 plot and Beijing Daxing District Xihongmen Town DX04-0102-6035 plot entered the on-site bidding link. The DX04-0102-6035 plot in Xihongmen Town, Daxing District, Beijing, reached the highest upper limit after 18 rounds of on-site bidding** and transferred to the lottery, and finally won by China Construction Yipin, with a sales guide price of 660,000 yuan. The land area of the above plot is about 470,000 square meters, building control scale 11760,000 square meters, the nature of the land is second-class residential land, and the plot ratio is 25. The height is 45 meters, and a small high-rise community can be built in the future. The starting price of the plot is about 42400 million yuan, setting a reasonable upper limit of land** about 487.6 billion yuan. The area to which the plot belongs is planned in a piece, and the area of concentrated development has a number of residential, educational and other land use plans. At present, it has been officially announced that two high-quality resource schools, Beijing No. 4 Middle School and Huangchenggen Primary School in Xicheng District, Beijing, have been introduced. In addition, the northeast side of the plot is also planned to extend the West Hongmen East Station of Metro Line 19 to the south; On February 22, the HD00-0305-0024 plot of Cuihu in Haidian, Beijing, and the DX04-0102-6035 plot in Xihongmen Town, Daxing District, Beijing entered the on-site bidding link. According to the latest news, the Haidian Cuihu HD00-0305-0024 plot reached the highest upper limit after 18 rounds of on-site bidding** and transferred to the lottery, and finally won by Hong Kong China Travel Service, with a premium rate of 15%, a sales area of 10,000 square meters, and a sales guide price of 850,000 yuan. The land area of the above plot is about 2530,000 square meters, the building control scale is about 4550,000 square meters, plot ratio 18. The control height is 36 meters, and the starting price is 25100 million yuan, set a reasonable upper limit of land** about 288.7 billion yuan.
Other significant matters:Dalian Cultural Tourism Group signed a contract with six enterprises including China Construction Eighth Bureau to focus on the Dalian Cultural Tourism Project; beeplus signed a strategic cooperation agreement with Yuzi Affordable Housing and Palm Co., Ltd. The first cooperation will land in Guangzhou
Dalian Cultural Tourism Group signed a contract with six enterprises including China Construction Eighth Bureau to focus on the Dalian Cultural Tourism Project;
On February 19, Dalian Cultural Tourism Group held a centralized signing ceremony for the "good start" strategic cooperation project in the first quarter of 2024 at the World Expo Plaza. The cooperation involves six companies, including the Northeast Branch of China Construction Eighth Bureau, Far East Horizon, etc. The content of the cooperation mainly revolves around the "Classic of Mountains and Seas". "Blue Sea Qingqiu" Kunlun Theater Project, Leisure and Entertainment Complex Project and "Half an Hour to Fall in Love with Dalian" series of cultural tourism projects, etc. It also involves the development and operation management of scenic spots, the operation of urban supporting services and the special theme cultural tourism activities, aiming to promote the in-depth integration and development of Dalian's cultural and tourism industry. The signing of this agreement is the result of the joint efforts of all parties and will inject new vitality into Dalian's cultural and tourism industry.
beeplus signed a strategic cooperation agreement with Yuzi Affordable Housing and Palm Co., Ltd. The first cooperation will land in Guangzhou
On February 22, it was learned that Bee Technology Beeplus signed a tripartite strategic cooperation with Henan Yuzi Affordable Housing Management and Operation Co., Ltd. Palm Ecological Town Development Co., Ltd. It is understood that the three parties will give full play to their respective advantages to carry out multi-level, multi-form and multi-field cooperation and exchanges in the revitalization of stock assets and operation management, planning, design, construction, industrial investment, project management, operation and maintenance of industrial carriers, so as to achieve resource sharing and common development. The first cooperation between the three parties is about to land in Guangzhou, and Bee Technology BeePlus will make use of the advantages of the Greater Bay Area to promote the coordinated development of talents, create a new benchmark for CBD industry carriers, expand and strengthen the building economy and headquarters economy, and help optimize the industrial structure, improve the energy level of enterprise development, and lead the new quality of productivity.
Policies:
The central bank cut interest rates by 25 basis points, and the LPR for more than 5 years was 395%According to the Ministry of Housing and Urban-Rural Development, 214 cities in 29 provinces have established a real estate financing coordination mechanism. Ministry of Housing and Urban-Rural Development:214 cities in 29 provinces have established a real estate financing coordination mechanism, and proposed a "white list" of real estate projects that can be given financing support in batches and pushed it to commercial banks, involving a total of 5,349 projects. Central Banks:The 1-year LPR is 345%, and LPR for more than 5 years is 395%。Yangzhou:Restrictions on sales have been lifted. Hainan Province, Yiyang, Shenyang, Jinan, Tianjin and other 5 cities:From the support of the provident fund to pay the down payment, the provident fund law auction loan, increase the maximum amount of provident fund loans, etc., to meet the reasonable housing needs of home buyers. Yangzhou, Shenyang, Lishui Liandu District:Housing purchase subsidies are issued.
Table: Summary of key policies and events in the real estate market from February 19 to February 25