Many people in the industry said in an interview with the National Business Daily that the first round of centralized land supply in some cities had a high land premium and the head enterprises took a high proportion of land, which was contrary to the original intention of the policy. It is not difficult to understand that the rules of land auction for the second round of centralized land supply in cities have been adjusted.
"In particular, the sources of funds for local auctions are inconsistent with the situation of vests, and there are situations that disrupt order and push up housing prices. In the context of strict control of housing prices, many cities have either uncontrollable land prices or increased the cost of housing enterprises in disguise. The increase in invisible costs of housing enterprises will eventually be reflected in housing prices. "
Can "cutting corners" be prevented?
"Competitive quality" will become the focus of a new round of centralized land supply.
Specifically, Hangzhou first launched the "competitive quality" pilot plot in the ten urban areas, and adopted a two-stage operation mode of one-time announcement, offline "competitive quality" and online "competitive land price". All the pilot plots were sold, and they could be sold only after the government organized acceptance procedures such as completion filing and verification.
The high-quality housing construction scheme of "the highest bidder wins" is adopted in plots BH202 105 in Baohe District and JK20213 in Economic Development Zone of Hefei. When the bid price reaches the maximum price limit, other bidders who are still willing to continue to participate in the bidding will be transferred to the stage of competing for the construction scheme of high-quality commercial housing, and the bidders who participate in the bidding must submit their applications for participating in the construction scheme of high-quality commercial housing on the spot.
Compared with "competing for quality", Nanjing and Chengdu go further and directly "determine quality" in the stage of soil auction.
This round of land transfer in Nanjing adopts the method of "limiting house price, fixing quality and competing land price". When the online transaction reaches the highest price limit, the bidder's land must be determined by lottery, and the pre-sale conditions of commercial housing will be raised to 50% of the completed residential investment, and some plots may not be jointly developed. The so-called "no cooperative development" means that "the plot shall not be jointly registered for bidding or cooperative development. After winning the land, the bidder can set up a project company according to the existing regulations, but the bidder must hold 65,438+000% of the shares, and the equity cannot be transferred. "
In Chengdu, the auction will no longer be conducted by competing for the construction of self-sustaining fixed rental housing or continuing to compete for the proportion of self-sustaining rental housing area. This is also the first time that "quality determination" has been linked to local auction after Chengdu issued the "Regulations on Technical Management of Newly-built Commercial Housing in Chengdu" on June 7, which made clear the quality, quality and use function of newly-built commercial housing projects in Chengdu in detail.
"Competitive quality is to prevent housing enterprises from cutting corners and reducing the quality of the project in order to reduce costs in disguise under the background of rising comprehensive costs of housing enterprises but strictly controlling housing prices. This is a livelihood issue that affects the lives and property of ordinary people and will be strictly controlled. " Song Hongwei, research director of Tongce Research Institute, pointed out.
Pan Hao, a senior analyst at RealData, holds a similar view. In his view, "quality is to prevent the rapid turnover of housing enterprises from leading to the decline of product quality and damaging the rights and interests of consumers; Secondly, we can eliminate some housing enterprises with insufficient strength and urge them to pay attention to product strength and project quality. This move is also a new test for housing enterprises, especially the financial strength and ability to go to the chemical industry. "
Is the opportunity for small and medium-sized housing enterprises coming?
The "two concentration" policy, which began in February this year, aims to divert the land acquisition funds of real estate enterprises and cool down the land price.
"The three red lines and the management of mortgage concentration limit the vicious leverage of enterprises, but the institutional environment with fierce competition in the land market still needs reform." CITIC Securities previously stated in the research report that institutionally, the land market reform can be said to be the last piece of supply-side reform of the industry-the "involution" competition will end.
However, judging from the implementation of the first round of centralized land supply, not only did it fail to meet the expectation of reducing land prices, but even the premium rate and land transaction price in many cities hit record highs.
For example, China Merchants Shekou won a commercial and residential plot of Xiyong Group in Shapingba District of Chongqing for 3.25 billion yuan, with a premium rate as high as129.98%; All the plots in Dongxihu District of Wuhan were sold at a premium, and the floor price of the area was refreshed twice in a row; Guangzhou Huangpu Military Academy Primary School plot became a "vest" special session, and as many as 320 housing enterprises participated in the "hunting".
According to Central Plains data, 802 residential land were sold in 22 cities in the first round of centralized land supply, with a total land transfer fee of 654.38+00.530 billion yuan and an average land premium rate of 654.38+04.7%. Average floor price 10002 yuan/m2, up from 2020 15. 1%. Among the 22 cities, the highest is Chongqing, with a premium rate as high as 36.23%; Followed by Xiamen and Hangzhou, the premium rate is between 20% and 30%.
Everyone seems to have forgotten the original intention of centralized land supply. Without experiencing the first round of centralized land supply in any pilot project, it ran counter to the original intention of the policy with practical actions.
Therefore, several cities that recently announced the details of the second round of centralized land auction have adjusted their premium rates.
Hangzhou adjusted the ceiling price of land. The upper limit of the premium rate of general plots is 15%, and the premium rate of "competitive" plots is not higher than 5%. Nanjing lowered the highest premium rate from the previous 30% to15%; Although Chengdu has not clearly stipulated the maximum premium rate, according to the "auction starting price" and "land maximum price" of the parcels, the premium rate of most of the 75 parcels in the second round of centralized supply in Chengdu does not exceed 10%.
"Housing enterprises have advantages and disadvantages. The advantage is that controlling the premium rate is equal to controlling the land cost, and the phenomenon of high-priced land kings will be significantly reduced, increasing the living space of small and medium-sized housing enterprises. " Song Hongwei pointed out that, on the other hand, the capital requirements for housing enterprises are stricter, which is consistent with the three red lines, to prevent housing enterprises from adding leverage in disguise and increasing risks.
It should be pointed out that both Hangzhou and Chengdu have stipulated the sources of funds for land acquisition enterprises in the latest announcements, requiring that the bidding funds must be compliant and owned by themselves. If the evaluation does not meet the requirements, the bidding qualification of the intended bidder will be cancelled.
"This is an act of managing the land pre-integration of housing enterprises, avoiding improper or excessive use of financial leverage, bringing risks and hidden dangers to the development of the industry, such as excessively raising the heat of the land market and speculating high land prices, and at the same time thoroughly cracking down on the development of enterprises for investment purposes, disrupting the stable development of the industry." Pan Hao pointed out that this is an industry screening at the government level, and enterprises with insufficient financial strength and unhealthy capital operation will gradually withdraw from the market.