In June, land auctions in many places saw a structural increase in temperature: the total price of a single land in Shenzhen exceeded 10 billion yuan, and behind the "land king" is a new logic of improving pricing for property.

In June 2026, many city core areas saw the emergence of high-premium land parcels, with the hottest cities including Shenzhen, Hangzhou, and Changsha. Within just one month, Shenzhen consecutively auctioned off 3 core residential land parcels, with a total transaction price of 10.51 billion yuan for the pure residential land in Baoan Xin'an Street, breaking the 10 billion yuan mark; in Hangzhou's Binjiang District, a single pure residential land parcel had a premium rate of 79.03%, setting three records for total price, floor price, and premium rate of residential land parcels in the first half of 2026; in Changsha's Binjiang New Town, a residential land parcel completed the transformation from commercial to residential use, setting a new record for the highest premium rate in land auctions in Changsha this year at 38.98%. At the same time, there is fierce competition for prime land parcels in core areas of Beijing, Suzhou, Jinan, and Wuhan, with bidding rounds for popular parcels reaching dozens or even hundreds of rounds; the highest floor prices for residential land in Beijing, Shanghai, and Shenzhen have all surpassed 10,000 yuan per square meter. Reporters also noticed a significant shift in the investment logic of real estate developers, no longer blindly pursuing nationwide scale expansion but focusing more on high-quality improvement land parcels in core areas of core cities. Poly, Jianfa, China Merchants Shekou, and China Resources Land, among other real estate developers with backgrounds in central state enterprises, have become the main players in the bidding for prime land parcels in this round.