According to the end-of-month quick report data, the land transaction floor area in March was still lower than that of the same period in February, marking the first time since 2019. Core cities maintained high heat, with the average premium rates in Beijing, Shanghai, Hangzhou, Chengdu, and Suzhou all exceeding 20% in March. As of March 25th, the land supply for this month was 42.72 million square meters, a seasonal increase of 58% compared to the previous month, but still a year-on-year decrease of about 5%. The transaction floor area was 20.97 million square meters, a decrease of 16% compared to the previous month and a year-on-year decrease of 25%. The transaction amount was 80.9 billion yuan, a year-on-year decrease of 2%. The average premium rate in the land auctions in the first quarter of 2025 has been positive for three consecutive months, and the average premium rate in March was already similar to the high level in the same period of 2021. Thanks to a series of policies to stabilize the real estate market issued by central ministries and commissions, the development expectations of core cities have significantly improved. Coupled with the active promotion of the recovery of idle land and the purchase of existing commercial housing, the land auctions for high-quality plots have continued to heat up.
In the first quarter of 2025, China’s real estate market as a whole remained at a low level, continuing the trend of stabilizing after a decline. In March, the top 100 real estate developers achieved a sales and operation amount of 317.57 billion yuan, a month-on-month increase of 68.8% and a year-on-year decrease of 11.4%, with the monthly performance scale remaining at a historical low. In the first quarter, the top 100 real estate developers achieved a sales and operation amount of 733.3 billion yuan, a year-on-year decrease of 5.9%. In March, thanks to the increase in supply and the intensification of marketing efforts by real estate developers, a local “mini-spring” market emerged: the transaction volume in 30 monitored cities was 12.13 million square meters. Due to the low base in February, it increased by 76% month-on-month and slightly increased by 3% year-on-year. The cumulative year-on-year increase in the first quarter was 6%.
In March, the land market was hot in some areas, and the land auctions in core cities continued to warm up. The average premium rate was 17.1%, an increase of about 6 percentage points compared to the previous month. Among the top 10 cities in terms of transaction amount this month, six cities had an average premium rate of over 10%, with Hangzhou and Suzhou having average premium rates as high as 42% and 38% respectively. From January to March 2025, the total new land reserves of the top 100 real estate developers in terms of new value, total price, and floor area were 622 billion yuan, 317.1 billion yuan, and 33.56 million square meters respectively. The new value increased by 17.8% year-on-year, the total price increased by 42.2% year-on-year, and the floor area increased by 5.1% year-on-year. The total of the top 100 in all three indicators returned to positive year-on-year growth, indicating that the investment enthusiasm of enterprises has bottomed out and is recovering.
Post time: Apr-03-2025