The interception of high land prices and new tactics to play in Shanghai
 
October 25, the long-awaited operation of the first three quarters of the national economy, released by the National Bureau of Statistics. Results of the day on the Topix index plummeted 4.8%, because the CPI, GDP, housing prices remain high, the capital market worried that more stringent control measures. Statistics also specifically cited the soaring prices of the four reasons, one of which is raising the cost of land development and construction: the 70 large and medium-sized urban land transaction prices rose faster, 1-3 quarter rose 12.8% cumulative average, the first quarter rose 9.8% during the second quarter, up 13.5%, the third quarter rose 15%. 

In this situation, as the property market "Columbia" in Shanghai, but also have begun to move. Recently, in the 9th Notice residential land developer bidders got the "category on the reorientation of residential land at the scene bidding rules listed notice." One of the most important provisions are: residential land area of the total land area of more than 50% of the block, the scene at the scene bidders will be bidding to one-time written quotations. 


Frankly speaking, this is only a detail changes, but developers, the most likely have a significant impact. To find out, but also from the "auction listing transfer of state-owned land use rights provisions" Talking about. The "rule" is the Ministry of Land and Resources in April 2002 introduction, launched in July, but it was not until 2004, "8.31 Doomsday"方才fully implemented. Among them, the provisions of Article 19 of the listed transactions three cases: 1, there is only one period listed bidders were Price, and the offer is higher than the reserve price, listing transactions; 2, listing within a period of two or more than two bidders who offer, the highest bidder for competing in the people; 3. deadlines The deadline for listing will still have two or more than two bidders were asked Price, a list of people to be on-site bidding, the highest bidder for competing in the people. 

Carefully think will understand that, the above-mentioned "third case" substantive and auction the same. Why will set up three open transfer land? Nothing more than to the land and to deal with different situations, tender suited to a comprehensive assessment of the major developers with public welfare projects or color projects such as the economy housing projects generally take such transfer; Auction apply to high-quality, high-end item, the government can maximize the proceeds from land; Listing referral in between the two, although he also followed the same with the auction of accepting the highest bid in principle, but left to the developer of the full decision-making time. In order to ensure that the maximum benefits, while preventing developers in the auction scene frantically pursuing a more irrational, including Shanghai, many cities are listed preferred way transfer of commercial land. 

Also said that the government hopes that the above list is the "second case" transfer. Unfortunately, in the past two years, house prices continued rising, "the property market Feast," some large developers, especially the huge sums of money from the stock market circles enterprises, like listing approximation of the "third situation": the scene bidding. Ambitious real estate heavyweights who, after the close flying and eventually won quite heroic . In this case, Ann-subdivision listing, it was because the final bid must engage the scene, the same auction. Premium irrational Biao high, and this is also a bit operating mechanism "ambiguous relationship." 



Obviously, the Shanghai amend the rules of the game, those who harbor attempt勾心斗角estate magnates will be only one choice: The deadline for listing onto the scene in the bidding, written by the bidders to fill in the spot quotations at the scene, sealed reference to the scene notarization, and then the spot opened Price, announced that the competition to obtain the highest offer for the people. Although this is only a simple change has made the rounds before pursuing a common bid, has become a "one gun" policy, a bit like the Go "in the outcome hand." 

So, what are the effects? The author believes that the majority of circumstances, the head of the bid will touch repeatedly, the development costs and weigh the relationship between land prices and speculation opponents Price, and then at a more rational price. However, it is special quality, scarcity of land, if happens is also a hurry to take to the sea of real estate heavyweights, then he is very likely offer bidders form than the original price even higher! Namely, this rule change is not always ironclad can inhibit excessive formation of the non-rational Price is not 100% of the medicine. 

However, if a broader vision of this new political considerations, even nearly 30 years of reform in China are feeling way across the river, for the listing of Shanghai New Deal can not expect. We must recognize that China's existing land transfer means there are many good places, as part of the source of the real estate industry, both of the Ministry of Land Resources, or local government, should constantly try to improve the ways in which land transfer, particularly residential land transfer system more in line with industry - Kang development requirements.