27 land parcels worth at least 13.68b yuan total auctioned this month

By Cherry Cao | January 3, 2014, Friday |

Online Edition

SHANGHAI will see at least 27 land parcels released for auction in January as robust momentum in the property market has been extended for another month.

The plots have a combined starting price of 13.68 billion yuan (US$2.25 billion), according to latest research released by Century 21 China Real Estate.

"Monthly land sales in Shanghai have exceeded 10 billion yuan since April 2013 and we expect this trend to continue in January," said Eric Luo, an analyst at Century 21 China Real Estate. "For the whole year, land supply in Shanghai may remain rather abundant while developers should also remain aggressive in expanding their land bank following robust sales registered last year."

Across the city, a residential plot in Zhabei District has garnered the most attention from developers.

Covering a site area of 96,429 square meters, the parcel in Daning area — located within the city's Middle Ring Road — will be sold at an asking price of 4.77 billion yuan, or 22,500 yuan per square meter, according to government documents released earlier.

"Concerning its size and location, the residential plot is indeed a rare piece released by the local housing authority," Luo said. "In comparison, the supply of land parcels within the Middle Ring Road purely designated for housing purposes only totaled 5,700 square meters last year."

Also notably, five land plots covering a combined site area of 149,000 square meters will be released for sale this month. The asking price for the five parcels stands at 660 million yuan.

Business Real Estate

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27 land parcels worth at least 13.68b yuan total auctioned this month

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