"Monopoly" game in Xi'an land market

China-News.Net - Finance October 1, 2020, 2:32 am Wu Song

Economic Observer network reporter Chen Yueqin

On the afternoon of September 28, Song Wei, who has nearly ten years of real estate investment and development experience, participated in and witnessed the birth process of Xi'an land king of unit price of floor in Xi'an hi tech Zone.

Song Wei told the Economic Observer network that the whole auction lasted nearly three and a half hours, and the first three plots involving commercial land were quickly sold out. Mainly in the pure homestead auction link is more intense, in the number of gx3-18-25 homestead auction once fell into white hot.

Finally, the homestead was won by country garden at a price of 1.177 billion yuan. With 235 million yuan of public rental housing construction funds and 1.06 billion yuan of school construction funds, the comprehensive cost reached 2.47 billion yuan, and the land price of 15125 yuan / square meter also broke the record of land king of Xi'an floor unit price.

This is just the tip of the iceberg of the land market in Xi'an since 2020. According to Kerui data, from January to September, a total of 205 business land transactions were completed in Xi'an, with a transaction value of 94.7 billion yuan, exceeding the annual land transaction amount in 2019. Among them, 73 were residential land transactions, 13 of which had a premium rate of more than 100%.

The real estate enterprises are scrambling to make up their positions in Xi'an and increase their reserves at a high premium. Behind this is the fact that the housing price in Xi'an has been rising for 53 months, ranking the first in the country in the past three years; at the same time, more than 2 million new Xi'an people have been brought by the new household registration policy, and the opportunity for the 2021 National Games to be held in Xi'an.

Hot City

As early as September 6, Xi'an put up seven pieces of land, including two commercial and residential land, one commercial office land and four pure homesteads. A total of more than ten real estate companies started to participate in the bidding on September 28.

The starting price of the plot gx3-18-25 is 744 million yuan. According to Zhang Fu, an investor familiar with the land market in Xi'an, the homestead is located in phase III of high tech (Pan hi tech sector). A state-owned enterprise affiliated to the high-tech zone has communicated with the hi-tech management committee before bidding, and the hi-tech management committee has also advised a large number of enterprises that want to sign up for bidding. Even so, some real estate enterprises have signed up.

In the bidding process, Xi'an high tech group, China Merchants, country garden, HUAFA, etc. competed to raise their cards. After several rounds of fighting, country garden won the prize with a premium rate of 232%.

"Since this year, some district governments have no longer signed land use agreements with enterprises. They have only made oral commitments, but they do not guarantee that they will be able to obtain the lowest price." Zhang Fu explained that the implication is: if there are other enterprises to rob, the higher price will get.

In addition to country garden, Xi'an Hi Tech Group Co., Ltd. China Merchants Shekou, Chongqing Huayu and other enterprises shared another 6 parcels of land, with a total transaction volume of 9.4 billion yuan.

From the regional perspective, the transaction volume of Xixian new area was 84, that of international port Park was 33, and that of Pan hi tech was 23. The seven parcels of land transferred on September 28 are all located in the pan high tech Zone.

In 2020, among the top five residential land transaction prices in Xi'an, they were new hope real estate of 3.7 billion yuan, Huayu group of 2.79 billion yuan, Xi'an high tech group of 1.67 billion yuan and country garden with a total of 4.122 billion yuan to win two pieces.

As early as September 11, Xi'an issued the notice of Xi'an Municipal Bureau of natural resources and planning on announcing the benchmark land price of Xi'an City (hereinafter referred to as the "notice"), which revised the state-owned land grade and benchmark land price implemented in November 2012, and the initial land price was increased compared with the previous one.

Song Wei revealed that the seven parcels were not affected by the new benchmark land price coefficient, and the starting price was "undervalued", resulting in a high final premium rate.

"The state-owned real estate enterprises in Xi'an are particularly fierce." A person in charge of Xi'an regional investment and development of top 50 central enterprises revealed that when the land market is in a downturn, local state-owned enterprises will play a supporting role. However, different from Xi'an, the real estate platforms with state-owned assets background are widely involved in land auction, and even the main force of land grabbing.

Since 2020, there have been 23 land transactions in Xi'an pan hi tech Zone, of which 9 have been seized by Xi'an hi tech group, which is controlled by the Management Committee of the hi tech Zone. Among the 27 parcels of land transferred by Fengxi new town, 18 were obtained by Fengjing real estate, Fengxi development and other state-owned platform companies.

According to incomplete statistics, since this year, three platform companies, including Xi'an Fengdong Development Group Co., Ltd., which is controlled by Fengdong New Town Management Committee, have obtained 9 land parcels, 6 platform companies under Qinhan new city management committee and 7 land acquisition cases under Jinghe new city management committee.

Land acquisition strategy

A number of real estate enterprises in charge of Xi'an regional investment and development said that their companies regard Xi'an as a key investment city in the northwest and northern regions. In particular, the performance of companies around Beijing, Zhengzhou and other regions is poor, and the high price land won in 2017 is facing unsalable, "which can be understood as the strategy of" encircling pickaxes to save Zheng "and" encircling pickaxes to save Tianjin ", compared by a person in charge of regional investment and development in Xi'an.

Hu you, director of Xi'an regional investment and development of a top 60 real estate enterprise, explained that the hot and cold residential land is related to the supply. The company's inventory in Xi'an has bottomed out, so it needs to take land to maintain the operation of the team. Otherwise, the regional companies will face the dilemma of being merged or disbanded.

At present, Hu You's company has nearly 10 projects in Xi'an, and 2-3 acquisition and merger projects are waiting to be confirmed. For the time being, Hu you is still holding a string.

"The higher the price is, the higher the land price will be Hu you said that in the second half of this year, a small and medium-sized private enterprise in Guangzhou robbed him of a piece of land in the second half of this year.

On September 24, a number of departments in Xi'an jointly issued a new regulation for the construction of public rental housing for commercial housing. Developers can choose to build in kind according to the proportion of 15% of the residential building area of the parcel of land, or choose to pay 10% of the starting price of homestead for centralized allocation and construction.

"In the past, 5% of the residential building area of the parcel of land is multiplied by the construction cost of 6500 yuan / square meter to calculate the construction cost of different places." Zhang Fu calculated an account. The new rules require 10% of the starting price of homestead transfer, which can not be deducted from tax. If a project pays value-added tax below 20%, it can be exempted from paying land tax, but if it exceeds a little bit, it needs to pay 30% of the value-added value, and the whole tax will increase a lot. Take the project operated by Zhang Fu as an example, the new regulation requires more than 10 million yuan to pay for the construction cost in other places.

"The land price is increasing, and the construction cost of other places is rising again. Where can we dig for profits to make up for these costs?" Zhang Fu believes that the price of 6500 yuan per square meter paid by developers is too high. "The government generally gives the state-owned enterprises such as Shaanxi Construction Engineering Co., Ltd. for centralized construction, land is not needed, and the design of public rental housing is relatively simple. The total cost of marketing, design and financing of commercial housing has been reduced, and the allocation price of 6500 yuan per square meter is not reasonable.

"If you don't take part in the bidding, you can't get the land. The whole project company has to work?" Zhang Fu's tone is rising. The open market is competing for the money bag. The winner or loser of the land is basically divided on the starting line of the size and capital strength of the real estate enterprises. How can investment and development work hard when it comes to card raising?

"You can only limit the resources you have. Go to the preliminary research, study and judge how to control the company's cost, and the internal ability to pay a premium is higher. Otherwise, investment and development rush forward to take a piece of land. The cost post shakes his head, and the marketing post dare not sell high prices. Then this land is not suitable for the company to develop." Zhang Fu thinks.

In mid September, a top 20 real estate company headquartered in Shanghai went to Xi'an to conduct preliminary research on a plot in Chanba district. On September 23, the plot was officially sold, attracting 30 real estate enterprises such as country garden, poly, Longhu and Xincheng. After 52 rounds of bidding, it was finally closed out of the tight encirclement by China Merchants Shekou, with 928 million yuan and a floor price of 12500 yuan per square meter.

The top 20 real estate investors are not surprised by the result that they did not get the land. Since the company first entered Xi'an through the "curve" of acquisition and merger in 2017, its company has never successfully acquired land in the open market, and nearly 10 projects have been obtained through acquisition and merger. "For 4 years, we have always chosen" curve line "to stay in Xi'an".

Joint control panel is one of the ways to break the situation after taking high price land. At the end of August, CCCC real estate and CTS Hong Kong acquired two homesteads in Fengxi new town, equivalent to 8642 yuan and 10127 yuan per square meter. The land acquired by CTS Hong Kong has become the "new land king" in the unit price of Xixian new area.

A person who participated in the auction of the lot disclosed that this kind of land must be a top-end product series, but after taking the land, CCCC real estate once thought that CTS Hong Kong's bid was too crazy, and it was difficult to control the high price land in the future. However, two days later, CTS and Fengxi Management Committee jointly won three pieces of land around xindiwang at the bottom price. Four land financing and development together, time cost, development cost can achieve dimension reduction blow to CCCC real estate, "CCCC real estate did not expect, finally, I did not see the situation.". The person said.

Grounding failure

A number of real estate enterprises in charge of Xi'an regional investment and development said that their companies regard Xi'an as a key investment city in the northwest and northern regions. In particular, the performance of companies around Beijing, Zhengzhou and other regions is poor, and the high price land won in 2017 is facing unsalable, "which can be understood as the strategy of" encircling pickaxes to save Zheng "and" encircling pickaxes to save Tianjin ", compared by a person in charge of regional investment and development in Xi'an.

Hu you, director of Xi'an regional investment and development of a top 60 real estate enterprise, explained that the hot and cold residential land is related to the supply. The company's inventory in Xi'an has bottomed out, so it needs to take land to maintain the operation of the team. Otherwise, the regional companies will face the dilemma of being merged or disbanded.

At present, Hu You's company has nearly 10 projects in Xi'an, and 2-3 acquisition and merger projects are waiting to be confirmed. For the time being, Hu you is still holding a string.

"The land price is higher and higher, some real estate enterprises take the high price land, and then turn to the land auction market to raise the price." Hu you said that in the second half of this year, a small and medium-sized private enterprise in Guangzhou robbed him of a piece of land in the second half of this year.

In addition to the fierce competition for bidding, auction and listing, Zhang Fu also mentioned that it is becoming more and more difficult to hook up this year. The only opportunity for enterprises to settle down in the district is for enterprises to settle down in the district.

In 2017 and 2018, China Resources Land and green city entered the port area. At that time, the land price was 5-5.5 million yuan / mu; in recent two years, the price of land per mu rose to 6 million yuan-6.5 million yuan, and the assembly rate must reach 20%, so the cost of land and construction and installation is getting higher and higher.

Since the beginning of this year, it has become more and more difficult for the port area to link up the land. "Since the land quota of the port area is limited every year, we should first cash in the land promised to the central enterprises in the early stage." Said the head of Xi'an regional investment and development of the top 50 central enterprises.

"From the second half of 2019, as long as the developers feel that they can meet the listing conditions, even if they know that the peers have already signed the land, everyone will go to grab it, and the transferor and the official will not dissuade them." Zhang Fu revealed that the government is managing land in a merchant's way, and whoever increases the price will sell it to whoever.

Urban reform is another way for most small and medium-sized real estate enterprises to enter Xi'an real estate market.

Zhang Fu, for example, rarely sees China Resources in the Xi'an open land market. It is mainly a master in land allocation and urban reform. As early as March 2017, China Resources signed a "1 + 2" project cooperation framework agreement with the Xi'an municipal government. In the mode of "venue construction + area development + industry introduction", China Resources will build and operate Xi'an Olympic Sports Center and Xi'an Silk Road International Convention and Exhibition Center, jointly develop and construct Xi'an China Resources International Cultural and commercial center, and hook up a large area in the port area.

In late September, Xi'an announced the key construction projects of Qujiang New Area in 2020, in which Xi'an Cultural CBD International Business Center will mainly plan and construct China Resources Vientiane City, Vientiane world and 280m high-rise building.

"The location of this urban reform project is very good. China Resources only needs to demolish the old Qujiang Convention and Exhibition Center. Unlike the reconstruction of the old urban district, the property right is single, the cost of relocation and resettlement is low, and the difficulty is not great." Zhang Fu said that the Xi'an municipal government entrusted the urban renewal project of Qujiang Convention and Exhibition Center to China Resources. The land nature was commercial and residential land. After that, China Resources developed into high-end hotel style apartments. The purchasing power of the surrounding high-level white-collar workers was very strong. "Other real estate enterprises looked at it greedily, but they also understood that this way of taking land could not be learned from others.".

According to the aforementioned Shanghai based top 20 real estate enterprise investors, many district management committees use platform companies to participate in the land market. Although this is not uncommon in many cities, the government will communicate with the enterprises in advance to "cover the bottom" for fear of land auction.

This year, the top 20 real estate enterprise investors once participated in the bidding of a plot in Xi'an, and its competitors were only the platform company of the District Management Committee. They thought that the company's role was to provide the bottom line. As a result, they repeatedly raised their cards. They had no choice but to lose the hand with this plot after exceeding the authorized price of the company. "They clearly raised the land price, if other interested enterprises finally gave up the price tag To develop by themselves or to invite enterprises to jointly develop. "

Song Wei told reporters that in the local auction on September 28, he took the most expensive land he had been engaged in investment and development for more than ten years, and his individuals, regional companies and groups were very excited. In the fourth quarter, he would still pay attention to the plots supplied by the third phase of Hi tech, and have the right opportunity to "sell as soon as possible".

In contrast, in the face of reporters, Hu you expressed his feelings in Xi'an dialect: "disturbing the dead.". He said that it is not only for the second and third echelon real estate enterprises to see such a good market in Xi'an. Compared with Chengdu, Chongqing and other new first tier cities, the land price base is still in a depression, but they can not get the land.

On the other hand, "Xi'an is changing with each passing day. The young people who just need to look at the wages that have not changed in two years and the house prices have doubled. The newly reformed groups watch the house prices rise continuously, and the down payment of 1 million yuan for house replacement starts. The pressure is not small, but if they do not make money to change houses, it may be difficult to keep up with the increase of house prices in the future."

Standing in the office of investment and development director on the 28th floor, Hu you looked at the busy tower crane outside the window for a long time and asked, "is Xi'an like a huge construction site? What will Xi'an become in the future? "

Driven by property market

Xi'an real estate market volume and price rise, Statistics Bureau data show that the average price of new housing in Xi'an has been rising for 53 weeks.

According to the August real estate market monthly report data of Kerry Xi'an, as of the end of August, Xi'an commercial housing sales cycle was only 6.3 months. Since the second-hand housing price adjustment report of Xi'an has been released since 2017, the research on the adjustment and control of the second-hand housing price in Xi'an has been focused on.

"The project opened on September 16. As the number of registered houses exceeds the number of houses, it is necessary to draw numbers to select houses. On that day, more than 300 suites were sold 98% and more than 400 million yuan were sold. " On September 26, a real estate consultant for the fanyuecheng project in the international port area told the economic observer that only a small part of the first floor 1, 3 and 4 buildings were available.

In front of the Sales Office of fanyue City, the distribution of many competitive real estate is occupied by customers. Xiao Rui, a real estate consultant for Greenland new mileage project, told reporters that in August, she successfully purchased more than 20 orders by intercepting customers.

Xiao Rui showed reporters the grand opening ceremony of the new mileage project: nearly 200 people were crowded around the sand table of the sales office, the reception area and the tea area, and the team of customers paying deposit in the signing area was extended to the negotiation area.

"One day, I brought 15 groups of customers and their voice was hoarse. One customer went to the sales office at 11:00 p.m., and finally paid by the POS machine at 1:30 in the morning." Xiao Rui said that there are not many optional floors for the remaining two buildings, and the down payment must be made within three days, with a maximum extension of seven days.

At that time, there were still more than 50 groups of customers in the sales office at 7:00 p.m. The staff also moved in the buffet table, three dishes and one soup, as well as drinks and fruits, while eating and buying a house.

Haiyi Changzhou and Fenghua Xicheng, located in Fengdong new town, told reporters that Fengdong new town (except Xixian energy and Golden Trade Zone) originally belonged to the restricted purchase area. Customers with non Xi'an registered permanent residence need to provide personal income tax or social security certificate for more than 2 years before they can buy a house. Since March, the real estate consultant has been informed that there is no restriction on the purchase of the project, and all customers can buy it.

Haiyi Changzhou real estate consultant revealed that it sold 10 suites in August, including both local people in Xi'an and investors in Shenzhen. "As long as you have a Chinese account, you can buy it with money. According to the normal purchase process, you can pay money, check credit and check running water. There is no problem at all!"

According to the real estate consultant, in December 2019, the first record price of the project was 21000 yuan / square meter, and then some special price houses were offered for discount promotion, and the actual transaction price was about 18000 yuan / square meter. When building 4 and 8 in Block B were added on August 22, the unit price per square meter had risen to 23000 yuan / square meter - 25000 yuan / square meter.

"In less than a year, a suite has risen by nearly one million yuan." Haiyi Changzhou's real estate consultant further added that the newly approved unit price on September 27 had risen to 25000 yuan / square meter - 28000 yuan / square meter, and the total price of 166 square meter houses had increased by more than 800000 yuan.

Several projects have displayed slogans such as "land price of land auction market has reached new heights repeatedly" in sales offices, and listed the price of land auction floor in various regions since this year and the price of new houses around.

China Travel and Shenzhen real estate Co., Ltd. received a premium of RMB 1012.42 per square meter for each floor area invested by CTS and Shenzhen, respectively. The land acquired by CTS Hong Kong has become the "new land king" in the unit price of Xixian new area.

"The new land king" led to the disappearance of metropolitan and Western style era around the plot. "The original western style era sold five sets a week, but after taking that piece of land, it sold 50 sets a week." The person in charge of Xi'an regional investment and development of the aforementioned top 50 central enterprises disclosed.

According to the person in charge of the investment and development, it is not that Xi'an suddenly "rises", but that the potential of the city has been underestimated in the past few years. In addition, since the implementation of the new household registration policy in March 2017, the registered population has increased from 8.83 million at the end of 2016 to 10.2 million at the end of 2019.

"Xi'an has a strong absorptive capacity to the five northwest provinces. As long as there is an industry, young people will buy houses in Xi'an sooner or later." According to the analysis of the person in charge of the investment and development, the effect of more than 1 million new Xi'an people on the property market is very obvious, and the rigid demand plates with unit price of 10000-13000 yuan are all in the lottery.

(Song Wei, Zhang Fu and Hu You changed their names at the request of the interviewees)

RELATED NEWS

Is fresh juice nutritious and healthy? After watching this experiment, I decided to eat fruit directly in the future

Is mammary gland ache normal? Four ways to distinguish, do not know when you are sick

The body of these five places often sweat, may be the performance of the body is not healthy, please check yourself!

The world's first AIDS patient to die of cancer recurrence

Mars found underground lakes, or more than 3, the area equivalent to 1 / 5 of Germany