A new land king has emerged in Beijing, with a floor price of 102,400 yuan per square meter, making it the most expensive in history.
On March 18th, the land plot HD00 - 0705 - 0035 - 1 of the Shucun Land Balance and Coordination Project in Haidian District, Beijing was officially put up for auction. After 264 rounds of bidding, it was finally won by China Overseas Land & Investment Limited for 7.502 billion yuan, with a premium rate of 27.9% and a floor price of approximately 102,400 yuan per square meter, breaking the historical unit - price record in the Beijing land market.
The newly transacted Shucun land plot in Haidian has a land area of 39,737.8 square meters and a planned above - ground construction area of 73,299.74 square meters. It is designated as R2 second - class residential land, located along the Fifth Ring Road, with a floor area ratio of only 1.6, suitable for ultra - high - end residential development. Therefore, it attracted significant market attention before the auction, and the starting floor price had already reached about 80,000 yuan per square meter.
Image source: Beijing Municipal Commission of Planning and Natural Resources
The enterprises participating in this auction included China Overseas Land & Investment Limited, China State Construction First Development Group Co., Ltd., Yuexiu Property Co., Ltd., Beijing Capital Development Co., Ltd., Xiamen C&D Real Estate Group Co., Ltd., the joint venture of China Resources Land Limited and China Merchants Shekou Industrial Zone Holdings Co., Ltd., Beijing Haikai Real Estate Development Co., Ltd., China Jinmao Holdings Group Limited, Poly Developments and Holdings Group Co., Ltd., and Greentown China Holdings Limited. All of them are relatively active central and state - owned enterprises in the Beijing market. China Overseas Land & Investment Limited showed a determined attitude during the auction process.
The last land auction in Shucun, Haidian was in May 2021. At that time, Sunac China Holdings Limited won the northern and southern parts of Plot B - 1 with a total price of 12.1 billion yuan plus a 20% government property share. The floor price of the salable residential area was about 69,000 yuan per square meter, and the restricted - sale price of the residential properties was 112,000 yuan per square meter, which later became the Xuefu Yihuyuan project.
Currently, the second - hand houses in Xuefu Yihuyuan have not reached the years required for listing and circulation, but the listed price of second - hand houses in the adjacent Yuantian Mingsong project has approached 200,000 yuan per square meter.
Source: Lianjia