Three Residential Land Parcels Sold for 9.16 Billion Yuan Before Holiday as Beijing's Land Market Cools

Pre-Holiday Land Auction Wrap-Up: Three Residential Parcels Fetch 9.16 Billion Yuan

On the last day of April, Beijing's property market witnessed a spring land auction event. Three residential land parcels — located in Chaoyang Dongba, Fengtai Wanquansi, and Changping Beiqijia — were sold collectively for a total of 9.1597 billion yuan, closing out the land market ahead of the May Day holiday.

Among them, China Resources Land acquired the Fengtai Wanquansi Village shantytown redevelopment project site at the reserve price of 5.7711 billion yuan, with a floor price of approximately 58,500 yuan per square meter. Notably, factoring in the cost of constructing the river greenway, the actual floor price reached approximately 62,300 yuan per square meter, making it the most expensive parcel in this batch. Additionally, Jinmao secured the Chaoyang Dongba parcel for 2.0981 billion yuan, while the Changping Beiqijia parcel was also successfully sold.

January–April Transaction Data: Stable Volume, Declining Prices, and Cooling Sentiment

Looking at the overall figures, from January to April 2026, Beijing sold a total of 13 residential land parcels for a combined 21.7577 billion yuan. Compared with the same period in 2025, which saw 7 parcels transacted for approximately 33.49 billion yuan, the number of parcels nearly doubled, yet the total transaction value fell by roughly 35%.

However, in terms of construction scale, the total planned gross floor area of residential land sold in the first four months of this year was approximately 837,000 square meters, essentially on par with last year's 822,000 square meters. This indicates that the decline in transaction value was not driven by a reduction in land supply, but rather by an overall drop in per-unit prices and premium rates.

Premium Rates Narrow Sharply as Market Sentiment Turns Cautious

In terms of premium rates, Beijing's land market has been notably subdued this year. As of now, the highest premium rate in the first four months of 2026 was recorded at the Yizhuang New Town Yinghai parcel sold on April 21, with a premium of just 8.7%. In contrast, among the 7 residential parcels sold during the same period in 2025, three exceeded 15% in premium rate, with two surpassing 20%.

Reserve-price transactions have become the norm this year. Developers have adopted noticeably more conservative land acquisition strategies, with a rational "live within your means" approach replacing previously aggressive bidding behavior.

Absence of Core District Land Supply May Be a Key Factor

It is worth noting that, as of now, no residential land has been offered for sale within the Fifth Ring Road in Beijing's Haidian or Chaoyang districts. Industry analysts suggest this may be a primary reason for the overall coolness of the land market. Parcels in core districts are typically hotly contested "must-have" assets for developers, carrying strong market appeal and premium potential. The absence of land supply in these areas has left this year's auctions without the blockbuster parcels capable of igniting market enthusiasm.

Market Outlook: Core District Supply Window May Open in H2

Overall, Beijing's land market in the first half of 2026 has exhibited characteristics of "stable volume, declining prices, and converging enthusiasm." Developers have broadly adopted cautious land acquisition strategies amid deep industry adjustments, and combined with the slow pace of land supply in core areas, the market lacks significant upward catalysts.

Looking ahead to the second half of the year, if premium residential land is released in core sectors such as Haidian and within Chaoyang's Fifth Ring Road, it could reignite market activity. Meanwhile, as macroeconomic policies continue to gain traction and stabilization signals in the real estate market become more pronounced, a recovery in land market confidence remains a possibility. As a bellwether for China's national property market, Beijing's land auction trends will continue to command close attention across the industry.