Behind the warming of the land market: Core cities increase the supply of high-quality land parcels, and housing prices stabilize in many regions

Recently, the land market has shown significant signs of warming, with multiple cities including Shanghai, Hangzhou in Zhejiang Province, and Suzhou in Jiangsu Province frequently seeing high-premium land parcels, such as several land kings emerging in Hangzhou in a short period. At the same time, private real estate companies and foreign real estate enterprises have re-entered the market to participate in land bidding; the premium transactions are no longer limited to the core areas of core cities, and the suburban markets of some cities are beginning to warm up. Behind the warming of the land market, a trend of "stabilizing after a decline" in housing prices is gradually forming. The nationwide decline in housing prices continues to narrow, with new home prices in second-tier cities rising month-on-month; meanwhile, high-premium land transactions may drive up the average new home prices in high-energy cities, while quality supply is expected to attract improvement demand into the market. (The Paper)