Middle Finger Research Institute: Last week, the year-on-year increase in the real estate market was significant, with 1.46 million square meters of residential land in 40 large and medium-sized cities being sold.

The China Real Estate Research Institute issued a report stating that last week, the overall real estate transaction volume decreased compared to the previous week, but increased year-on-year. The year-on-year increase in transaction volume in first-tier cities led the way with a 43.34% increase. Overall, inventory slightly decreased compared to the previous week. Residential land transactions in 40 large and medium-sized cities totaled 1.46 million square meters, with land transfer fees reaching 36 billion yuan. In terms of land revenue, Fuzhou led with nearly 12.3 billion yuan, followed by Xiamen with over 5.8 billion yuan, while the rest of the top 10 cities had land transfer fees generally below 5 billion yuan. Transaction Transactions: Overall decrease compared to the previous week, small increase in first-tier cities Data Source: China Index Data CREIS Weekly Overall: Narrowing decrease compared to the previous week, year-on-year increase Data Source: China Index Data CREIS First-tier Cities: Overall transaction area increased both compared to the previous week and year-on-year, with a significant increase in the latter Last week, the overall transaction area in first-tier cities increased by 1.8% compared to the previous week. By city, Guangzhou and Shenzhen saw an increase in transaction volume, with Guangzhou leading with a 32.5% increase; Beijing and Shanghai saw a slight decrease in transaction volume. Year-on-year, the overall transaction volume in first-tier cities increased by 43.34%, with all cities except Shanghai showing an increase, with Shenzhen leading the way with a 246.7% increase. Table: Comparison of transaction volume in first-tier cities compared to the previous week Data Source: China Index Data CREIS Second, third, and fourth-tier cities: Overall decrease in second-tier cities, decrease in third and fourth-tier cities compared to the previous week Last week, the overall transaction area in representative second-tier cities decreased by 19.48% compared to the previous week. By city, Nanning and Jinan saw an increase in transaction volume, with increases of 8.76% and 0.08% respectively; the rest of the representative second-tier cities saw a decrease in transaction volume. Year-on-year, the overall transaction volume in representative second-tier cities increased by 2.25%, with significant increases in Wuhan and Wenzhou, at 37.73% and 31.84% respectively. The overall transaction area in representative third and fourth-tier cities decreased by 7.30% compared to the previous week. By city, Yangzhou, Dongguan, Meizhou, Meishan, and Qinzhou saw an increase in transaction volume, with Yangzhou leading with a 41.9% increase; the rest of the representative third and fourth-tier cities saw a decrease in transaction volume. Year-on-year, the overall transaction volume in representative third and fourth-tier cities decreased by 4.84%. Chart: Comparison of transaction volume changes in key second and third-tier cities Data Source: China Index Data CREIS Inventory: Overall inventory slightly decreased compared to the previous week The overall inventory of the monitored seven representative cities decreased by 0.49% compared to the previous week. In first-tier cities, the overall inventory slightly decreased, with Shenzhen and Beijing showing an increase in inventory by 0.3% and 0.2% respectively; Guangzhou and Shanghai saw a slight decrease in inventory by 0.6% and 0.4% respectively. In second-tier cities, the overall inventory decreased, with Hangzhou, Suzhou, and Wenzhou all showing a decrease in inventory by 1.8%, 0.8%, and 0.5% respectively. Data Source: China Index Data CREIS Land Overall situation: Land transfer fees in 40 cities totaled 41.2 billion yuan, with Fuzhou leading with nearly 12.3 billion yuan Residential land transactions in 40 large and medium-sized cities totaled 1.46 million square meters, with land transfer fees reaching 36 billion yuan. Fuzhou led with nearly 12.3 billion yuan, followed by Xiamen with over 5.8 billion yuan, while the rest of the top 10 cities had land transfer fees generally below 50 billion yuan. Table: Land market situation in 40 large and medium-sized cities (on a city level) Data Source: China Index Data CREIS Table: Top 10 land transfer fees Data Source: China Index Data CREIS Top 5 Residential Land Transfer Prices: Guangzhou's land plot tops the list, with four Pearl River Delta cities in the top 5 In the top 5 residential land transfer fees, only one plot in a first-tier city made the list, with four plots priced above 2 billion yuan. The land plot for Tianhe Wisdom City core area AT0305119 in Guangzhou's Tianhe District had the highest land transfer fee. Table: Top 5 total residential land transaction prices nationwide Data Source: China Index Data CREIS Top 5 Residential Land Unit Prices: Hangzhou's land plot had a transaction price of over 40,000 yuan per square meter This week, there were several transactions for prime plots in core cities, with a land plot in Hangzhou's Shangcheng District having a transaction price of 40,479 yuan per square meter, the highest unit price in the top 5 residential land deals. Table: Top 5 residential land floor unit prices nationwide Data Source: China Index Data CREIS Newly Released Focus Land Plots This week, Changzhou released 10 land plots with a total starting price of nearly 7.5 billion yuan. Guangzhou released 22 land plots with a total planned construction volume of nearly 2.27 million square meters. Data Source: China Index Data CREIS