On September 4, Shanghai's seventh batch of commercial residential land auction transactions concluded, with 5 plots sold covering a total area of approximately 139,900 square meters and planned construction area of about 237,100 square meters, achieving total transaction value of approximately 11.116 billion yuan. The Shanghai Municipal Planning and Natural Resources Bureau stated it will strengthen integrated "planning-reserve-supply-use" management, continue to increase quality residential land supply, maintain the "dual high, dual competition" transaction rules, optimize business environment, stabilize expectations, stimulate market vitality, and promote quality improvement, ensuring the land market continues stable and positive development.

Zhang Wenjing, Shanghai Data General Manager at China Index Academy, noted that Shanghai is accelerating quality land supply, particularly focusing on key development areas. The land auction momentum is expected to gradually transmit to regional new housing prices, with Shanghai's real estate market anticipated to maintain steady stability.

According to statistics, this batch attracted 15 bidders from 18 enterprises (some participated in multiple plot biddings), including established Shanghai developers such as China Merchants Shekou Industrial Zone Holdings Co.,Ltd. (001979.SZ), CHINA OVERSEAS (00688.HK), Poly Developments And Holdings Group Co.,Ltd. (600048.SH), and CHINA RES LAND (01109.HK), along with three private enterprises and one foreign developer.

The Yangpu East Bund plot attracted 9 bidders through 75 rounds of bidding, achieving a 28.09% premium rate and setting a new unit price record for the Daqiao East area. The Putuo Zhenru plot saw 3 bidders through 68 rounds, with a 12.79% premium rate, becoming Putuo District's highest unit price plot. The Minhang Zhuanqiao plot had 3 bidders through 8 rounds, achieving an 11.19% premium rate.

**Private Enterprises Secure Two Plots Against Market Trends, Institutions Say Good Timing for Shanghai Entry Approaching**

Fang Xiaoquan, Director of Haodi Research Institute, analyzed that Shanghai's non-core areas have become entry channels for external enterprises, with more external companies appearing in the sixth and seventh batch auctions. Besides Shanghai Qixiang Wangyu Real Estate Co., Ltd., which secured the national land king in the previous batch, this batch saw two more private enterprises entering Shanghai for the first time.

Taking the Minhang District MHC10402 Unit 24A-06A plot as an example, it attracted Zhejiang Jinggong Steel Building Group Co., Ltd., local state-owned Shanghai Taiwen Real Estate Co., Ltd., Xiangyu Real Estate Group Co., Ltd., and Shanghai Tianan Shengshi Real Estate Co., Ltd.

Ultimately, Zhejiang Jinggong Steel Building Group Co., Ltd. won the plot through 8 bidding rounds at 546 million yuan total price, with an 11.19% premium rate and floor area ratio price of 36,649 yuan per square meter. The plot is designated for ordinary commercial housing with a land area of 9,319.6 square meters and floor area ratio of 1.6.

According to land auction information, the Zhuanqiao area has limited residential land supply. The most recent transaction was in June this year when Poly Developments And Holdings Group Co.,Ltd. acquired the Minhang District MHC10601 Unit 01-22A-10 plot for 3.14026 billion yuan with a 12.95% premium rate and floor price of 38,775 yuan per square meter.

Another newcomer to Shanghai, Yucheng Group Co., Ltd., acquired the Qingpu District QPC1-0009 Unit 75-04 plot at the reserve price of 270 million yuan, with a floor area ratio price of 15,505.46 yuan per square meter. This plot is designated for ordinary commercial housing and commercial use, covering 9,691 square meters with a floor area ratio of 1.8. This represents the year's lowest total price residential land transaction.

Zhang Wenjing noted that this land auction saw private enterprises including Yucheng Group and Zhejiang Jinggong successfully entering Shanghai's real estate market for the first time, demonstrating non-traditional private developers' attention and recognition of Shanghai's real estate market.

Fang Xiaoquan believes good timing for external enterprises to enter Shanghai's land market is approaching, especially in non-core areas with relatively lower competition, expecting more new faces in Shanghai's land market this year.

He explained that non-core area small plots have lower total prices, reducing entry barriers, with many plots priced within 1 billion or even 500 million yuan. Additionally, non-core areas have higher probability of reserve price acquisitions, with high certainty even when competition exists due to low premium rates. Meanwhile, lower floor prices in non-core areas ensure profitability even with longer sales cycles.

**28.09% Premium! Yangpu Riverfront Residential Land Unit Price Breaks 90,000 Yuan/sqm Again**

The Yangpu District N090601 Unit I4-01 plot was this batch's hottest, attracting 9 bidders through 75 rounds. The joint venture of Jiangsu Rungao Real Estate Group Co., Ltd. and China Railway Real Estate Group Shanghai Co., Ltd. won at 2.736 billion yuan total price, with a 28.09% premium rate and floor price of 92,225 yuan per square meter, setting a new Daqiao East area record.

Participating developers included established Shanghai operators Poly Developments And Holdings Group Co.,Ltd., Shanghai Construction Engineering Real Estate Co., Ltd., China Merchants Shekou Industrial Zone Holdings Co.,Ltd., CHINA RES LAND, CHINA OVERSEAS, Shanghai Urban Construction (Group) Co., Ltd., Xiamen C&D Real Estate Co., Ltd., YUEXIU PROPERTY (00123.HK), Beijing state-owned Beijing Construction Engineering Real Estate Co., Ltd., and Singapore-based foreign enterprise City Developments Limited.

Since residential price limits were lifted last year, Yangpu District land prices have continuously reached new highs. Yangpu has been among the hottest real estate areas since Shanghai lifted residential price restrictions in the second half of last year, producing multiple hot-selling projects with Cloud Residence Jiuzhang and Haiyue Bund Xu BUND98 achieving over 200% subscription rates.

The I4-01 plot's land price reached 92,225 yuan per square meter, increasing 10,265 yuan per square meter from the adjacent plot's 81,960 yuan price in November last year, representing a 12.5% increase.

Currently, Yangpu's highest unit price residential land is the C090101 Unit 01C5-02 plot in the East Bund area, acquired by Shanghai Poly Urban Development Co., Ltd. under Poly Developments And Holdings Group Co.,Ltd. on June 19 for 3.5 billion yuan with a 30.79% premium rate and floor price of 95,530 yuan per square meter.

This project is located in the southern section of Yangpu Riverfront, known as Yangpu Riverfront Nine-Grid, bounded by planned Sanxing Road (east), Hangzhou Road (south), planned Songpan Road (west), and planned Runyu Road (north). The plot covers 16,482.71 square meters for ordinary commercial housing with a 1.8 floor area ratio, starting at 2.136 billion yuan and initial floor price of 72,001 yuan per square meter.

Fang Xiaoquan noted this plot's manageable scale with approximately 30,000 square meters construction area and 2.14 billion yuan starting price, excellent location adjacent to inner ring and Yangpu Bridge, surrounded by high-end industries including Meituan and Bilibili, plus Fuxing Island Quantum City development potential.

The adjacent Poly Haiyue Bund Xu Bund98 project's land was acquired by Poly Development and Shanghai Construction Engineering joint venture in November last year for 2.871 billion yuan with 17.09% premium and floor price of 81,960 yuan per square meter.

Poly Haiyue Bund Xu BUND98 completed its first subscription on May 21, with 223 units receiving 552 subscription groups, achieving 248% subscription rate and triggering 5-year sales restriction. The project offered 223 units ranging 100-143 square meters at average price of 126,400 yuan per square meter. To date, the project has launched 315 units total, selling 311 units.

Statistics show three other concluded plots in this area were determined through selection processes. In July 2023, China Construction First Development Investment Co., Ltd. acquired Dinghai Community I14-01 plot (Daqiao Street Block 90), I15-03, and I15-02 plots (Daqiao Street Block 89) for 3.862 billion yuan total.

The I14-01 plot project, China Construction First Pujiang Star, launched 428 units in May last year at average price of 109,900 yuan per square meter, achieving over 120% subscription rate, 90% opening day sales, and 4.9 billion yuan sales revenue.

In December 2024, Dinghai Community I15-01 plot (Daqiao Street Block 89) historical preservation project implementation was assigned to China Railway Real Estate Group Co., Ltd. through selection. The I15-01 plot's reserve price was 1.42641 billion yuan, covering 13,584.83 square meters for Class II residential cluster land with 1.4 floor area ratio, above-ground construction area of 19,018.76 square meters, and floor price of 75,000 yuan per square meter.

In June this year, Yangpu District Dinghai Community I9-01 plot implementation was assigned to China Construction First Development Investment Co., Ltd. This plot covers 21,210.66 square meters for Class II residential cluster land with 1.4 floor area ratio, above-ground construction area of 29,694.92 square meters, reserve price of 2.25682 billion yuan, corresponding to 76,000 yuan per square meter floor price.

On August 29, Yangpu District announced candidate selection for Dinghai Community I10-01 plot (Daqiao Street Block 90) historical preservation project implementation, covering 28,622.26 square meters for Class II residential cluster land with 1.3 floor area ratio, above-ground construction area of 37,208.93 square meters, reserve price of 2.8465 billion yuan, corresponding to 76,500 yuan per square meter floor price.

**Putuo Zhenru New Land King Emerges**

Within less than two months, Putuo District's residential land unit price record was refreshed again. The Putuo District W060401 Unit A03B-04 and A03B-05 plots attracted three bidders through 68 rounds. Shanghai Urban Construction Development Co., Ltd. under Shanghai Urban Construction (Group) Co., Ltd. and Shanghai Ruiteng International Real Estate Co., Ltd. defeated established Shanghai central enterprises CHINA OVERSEAS and China Merchants Shekou Industrial Zone Holdings Co.,Ltd., winning at 5.24 billion yuan total price without reaching suspension price, achieving 12.79% premium rate and floor price of 79,327 yuan per square meter.

The combined plots are designated for ordinary commercial housing with starting total price of 4.646 billion yuan and initial floor price of 70,332 yuan per square meter. A03B-04 plot covers 13,314.44 square meters with 2.5 floor area ratio and starting price of 2.341 billion yuan. A03B-05 plot covers 13,108.97 square meters with 2.5 floor area ratio and starting price of 2.305 billion yuan.

CRIC noted this plot's floor price exceeded the Putuo District W060401 Unit A03D-01 and A03D-03 plots concluded on July 24, 2025, becoming Putuo District's new unit price land king. The previous plots were acquired by CHINA OVERSEAS for 6.525 billion yuan with 14.17% premium rate, comprehensive floor price of 58,823 yuan per square meter, and residential portion floor price of 72,381 yuan per square meter.

Surrounding completed housing within 10 years averages around 100,000 yuan per square meter. According to Beike data, adjacent Pinzun International traded between 91,300-96,700 yuan per square meter this year; Gaoshang Lingyu traded at approximately 105,600 yuan per square meter in May; Zhongghai Zhenru Mansion traded at 101,100 yuan per square meter.

Fang Xiaoquan noted that Putuo Zhenru area has had supply gaps for years, with housing prices yet to be market-tested, leading to relatively rational enterprise bidding. Haodi Research Institute calculated that Shanghai Urban Construction only needs to sell at surrounding second-hand housing prices of 110,000 yuan for 4.5% profit, with higher expected profits if products are well-developed and prices increase slightly.

The plot is located within Putuo District Zhenru Urban Sub-center, bounded by Langao Road (east), Middle Ring Road (west), Wuning Road and Inner Ring (south), and Fuping Road and Shanghai-Nanjing Intercity Railway (north), offering significant location advantages.