China State Construction Intelligence Real Estate enters Yizhuang for the first time. Will the next Guoxian Mansion be here?
After a long period of calm, the land auction in Beijing finally regained its long - awaited liveliness today.
On April 21st, the plot 1401 - 1 in Block YZ00 - 0802 of Yizhuang New City was officially put up for auction, attracting five leading real - estate developers, namely Jinmao, Jianfa, China Construction Intelligence Land, Poly, and China Merchants, to bid against each other. After dozens of rounds of competition, China Construction Intelligence Land finally broke through the encirclement and became the new landowner of Yizhuang with 1.324 billion yuan.
Image source: Beijing Municipal Planning and Natural Resources Commission
Since the beginning of this year, almost all residential land transactions in Beijing have been at the reserve price. This plot in Yizhuang New City is the only one that achieved a premium transaction. In fact, its popularity was somewhat unexpected. In terms of location, it is neither in the city's core areas - Dongcheng and Xicheng Districts, nor in popular areas - Haidian and Chaoyang Districts. Instead, it is located in the traditional suburban area - Yinghai, Daxing.
So, why could a "suburban plot" outside the South Fifth Ring Road attract such fierce competition?
The reason may be attributed to: beautiful land and low price.
Regarding the plot itself, it is small in scale and easy to operate. Its land area is about 25,900 square meters, the above - ground floor area is about 51,800 square meters, with a floor area ratio of 2.0 and a height limit of 60 meters. If each unit is calculated to be 100 square meters, the future volume is expected to be around 510 units. In addition, the shape of the plot, which is slightly longer from east to west and narrower from north to south, is conducive to community and house - type design.
Image source: Beijing Municipal Planning and Natural Resources Commission
In terms of location, although it is outside the Fifth Ring Road, the urban interface is quite good and the supporting facilities are mature. There are several relatively new residential communities around the plot, such as Yinghaifu, China Overseas Universal Times, and Haiyan Chunqiu, forming a quite mature living atmosphere and urban basic supporting facilities.
It is adjacent to the large - scale shopping mall - Huanyufang in Yinghai on the southeast side, and there are also community commercial supporting facilities such as Shouhang Life Plaza. At the same time, the plot is about 2 kilometers away from Nanhaizi Park, and a 41,000 - square - meter green park will be built on the west side, which can meet the daily leisure needs.
In addition, the transportation is also very convenient. The plot is only about 200 meters away from Yinghai Station of Subway Line 8. It takes about 35 minutes to reach Wangfujing and about 50 minutes to reach the core areas such as Guomao CBD. If driving, the Jingtai Expressway is 1 kilometer away on the west side, and the Fifth Ring Road is about 3 kilometers away on the north side, making travel very convenient.
In terms of price, this plot is also very attractive. Its starting floor price is about 23,500 yuan per square meter, and the final transaction floor price reaches 25,600 yuan per square meter. Even if the new houses are sold at 50,000 yuan per square meter in the future, the developer will still have a very ample profit margin. Moreover, there has been little land supply in the Yinghai area in recent years, and there has been a certain amount of housing demand. As long as the developer polishes the product well, there will basically be no problem with the subsequent sales.
In short, for developers, as long as they do a good job in product development, this project is almost a sure - win deal.
Therefore, since the pre - application was launched in mid - March, this plot has been targeted by major developers. Jinmao was the first to activate this plot, and then China Merchants, Jianfa, etc. all placed their bets. Starting from April 13th, China Construction Intelligence Land, Poly, and China Merchants successively issued their respective tender announcements, all with a determined attitude, kicking off the prelude to this land auction competition in advance.
Each developer seems to have its own reasons for having to win this plot.
Take Jinmao for example. The sales of Puyi Fengyi in Fengtai and Jinmao Manyao in Chaoyang have both exceeded 60%, so it really needs to replenish its land reserves. Moreover, Jinmao has developed several projects such as Jinmao Mansion and Jinmao Yishu in Yizhuang, and it can be said to know the local market and customers very well. By the way, Jinmao has been very aggressive in land acquisition recently. Since March, it has acquired 9 plots nationwide, more than 40% of the total number last year.
China Merchants has even more reason. The plot auctioned today is only about 5 kilometers away from China Merchants Xi and China Merchants Xu. The customer groups may overlap. Once this plot falls into the hands of others, the sales pressure of these two projects will increase significantly. However, judging from the floor price of 25,600 yuan per square meter, the future project of China Construction will have an obvious price advantage compared with China Merchants Xu, which has a unit price of around 70,000 yuan per square meter. In addition, Jianfa, which caused a stir in the Beijing real - estate market last year, is in urgent need of replenishing its land reserves. Also, its cooperation project Guanchen with Jinmao in Fengtai has also built a good reputation in the southern part of the city...
The regret of developers such as China Merchants is an opportunity for China Construction Intelligence Land. It has already laid out projects in Changping, Chaoyang, Fengtai and other places, and Yizhuang is the missing piece. Now, Yizhuang has provided it with a new space to showcase its capabilities.
Guoxian Mansion may be the future appearance of this plot.
In the past two years, Guoxian Mansion has become a quite influential product line of China Construction Intelligence Land in the market. First, Beijing Guoxian Mansion in Changping won multiple sales championships for a long time. Then, last month, China Construction Fangcheng Guoxian Mansion in the west of Fengtai and Guoxian Mansion Park in Xiejia, Changping opened successively and also achieved good results. If China Construction Intelligence Land takes advantage of this wave of popularity and signals the launch of "Yizhuang Guoxian Mansion", it is bound to attract a new round of market attention.
In addition, the Yizhuang plot just acquired is quite similar to China Construction Fangcheng Guoxian Mansion and Guoxian Mansion PARK in terms of both scale and price.
Let's first talk about the transaction floor price. The floor price of the Yizhuang plot is 25,600 yuan per square meter, with a difference of less than 3,000 yuan per square meter from China Construction Fangcheng Guoxian Mansion (28,400 yuan per square meter) and Guoxian Mansion PARK (about 28,500 yuan per square meter). Judging from the selling prices of the other two Guoxian Mansions, which are between 50,000 and 55,000 yuan per square meter, the price of the future Yizhuang project will probably fluctuate within this range.
In terms of plot scale, the land area of the Yizhuang plot is about 25,900 square meters, the above - ground floor area is about 51,800 square meters, with a floor area ratio of 2.0, and the future volume is expected to be about 510 units. In comparison, China Construction Fangcheng Guoxian Mansion has a land area of 31,800 square meters, an above - ground floor area of 47,800 square meters, a residential floor area ratio of 1.5, and a total of 508 housing units.
As the first "good - quality housing" product in Yinghai, it's hard to say what house - types China Construction Intelligence Land's new project will have. Considering the situation of Yinghai itself, products for first - time homebuyers and those looking to upgrade their housing may be more suitable. Referring to China Construction Fangcheng Guoxian Mansion (about 78 - 117 square meters) and Guoxian Mansion PARK (about 78 - 145 square meters) that opened last month, it is expected that its area range will not deviate significantly.
Image source: China Construction Intelligence Land's official WeChat account
However, whether it is for first - time homebuyers or those looking to upgrade, one thing cannot be ignored: the educational facilities around the Yizhuang plot are obviously insufficient. Although there are Yinghai No. 5 Kindergarten and Beijing No. 80 High School Hongxing Future School nearby, compared with the Hexi area of Yizhuang, which is 5 kilometers to the east, there is a significant gap in the quality of the school district. To a certain extent, it may also affect the recognition of this plot by some customer groups.
In addition, there is a "sister plot" right next to the south side of the plot auctioned today, which was split at the same time. When China Construction Intelligence Land conducts product planning in the future, it may have to take its existence into consideration in advance.
Even though there are some individual deficiencies, for the entire Yinghai area, the auction of the new plot and the entry of China Construction Intelligence Land have injected new possibilities into the area: "Good - quality housing" will bring a brand - new lifestyle, and the regional value is expected to increase accordingly.
This article is from the WeChat official account "Future Livable", author: Future Livable. Republished by 36Kr with permission.