Land transfer fees rose overall. Last year, the land revenue of 300 cities nationwide broke 4 trillion.

　　On January 2, 2017, the transaction data of land market in 300 cities nationwide released by China Index Academy showed that the total land transfer income of 300 cities in the whole year was 4,012.3 billion yuan, up 36% year-on-year. According to the analysis of the Central Reference Institute, the overall land supply in 300 cities increased slightly during the year. The supply of hot cities has increased and is expected to be stable, which has boosted the transaction volume and the transfer fee.

　　Land transfer fees rose overall throughout the year.

　　According to the data of the Central Reference Institute, in 2017, affected by the overall increase of homestead supply, the proportion of residential land transfer fees increased by about 4 percentage points to 82% compared with 2016, and the proportion of commercial and industrial land decreased by 3 and 2 percentage points respectively, totaling 17%. In terms of transaction area, the supply and demand structure of various types of land is relatively stable, and industrial land still accounts for half. Compared with the whole year of 2016, the proportion of residential and commercial land increased by nearly 3 percentage points, and the proportion of residential land increased by 4 percentage points year-on-year to reach 37%.

　　From the perspective of different cities, the land supply in first-tier cities has increased significantly, which has promoted the overall increase in land transfer fees. Beijing and Guangzhou were among the top gainers year-on-year, while Shanghai and Shenzhen declined due to the adjustment of land supply structure. Second-tier cities are dominated by year-on-year growth, but the growth rate has slowed down; The total annual income from land transfer fees in Beijing and Hangzhou exceeded 200 billion yuan. Seven cities including Nanjing, Wuhan, Shanghai, Chongqing, Tianjin, Chengdu and Guangzhou have exceeded 100 billion.

　　The relevant person in charge of the Central Reference Institute pointed out that in 2017, the supply and demand of land in first-tier cities increased year-on-year, and the land supply area led the year-on-year increase, and the transfer fee increased by nearly 50% compared with 2016; The supply and demand of land in second-tier cities fell to a low level, and the year-on-year increase of gold collection and average price narrowed compared with 2016, and the overall market trend of land stabilized; Third-and fourth-tier cities undertake the spillover effect of first-and second-tier cities; Driving the supply and demand of urban land market in the region to heat up, land prices and gold receipts have increased year-on-year.

　　Looking at the whole year, in the first quarter, the land market was generally stable, hot cities insisted on regulation, the supply of first-tier cities increased sharply, and second-tier cities returned to rationality; In the second and third quarters, the regulation of hot cities deepened, and the average premium rate generally declined year-on-year, and demand spilled over to the surrounding third-and fourth-tier cities; In the fourth quarter, the overall supply climbed to a high level in the year, the transfer fee increased by nearly 40% year-on-year, and the average premium rate continued to decline.

　　Zhang Dawei, chief analyst of Zhongyuan Real Estate, believes that since the second half of 2017, the premium rate of the land market has started to decrease significantly. "For example, the average residential premium rate in Beijing in 2017 was 26%, but it fell to 8% in the last two months of that year, and most of the plots were basically sold at a price close to zero premium."

　　The policy of "combined" land control is widely implemented.

　　It is worth mentioning that in the whole year of 2017, "limited land price", as one of the traditional means of regulation and control of the land market, has been widely implemented nationwide. At the same time, "competitive construction" as a common combined supporting policy of "limited land price" is also being promoted simultaneously. At present, the mainstream construction content is the construction area of affordable housing.

　　According to the statistics of the Central Reference Institute, as of the end of 2017, major hot cities in China have made diversified attempts and innovations in the regulation and control policies of the land market, and the types of facilities for "competitive construction" are gradually enriched.

　　In addition, 2017 is called the first year of the housing rental market. During the year, with the promotion of various favorable policies, the housing rental market made efforts in many aspects such as land and finance. According to the statistics of the Central Plains Real Estate Research Center, in 2017, at least 50 cities in more than 12 provinces across the country issued policies related to "renting and renting" and launched land supply planning for the housing rental market.

　　From the perspective of land supply, all localities generally increase the effective supply of rental housing, encourage real estate development enterprises to participate in the transformation of industrial plants, and improve supporting facilities before transforming them into rental housing. The industry believes that these policies are conducive to promoting the supply of leased land and alleviating the supply and demand structure of the real estate market.

　　Yan Yuejin, research director of the think tank center of Yiju Research Institute, believes that "the future development of leased land will be mainly distributed in 36 first-and second-tier cities across the country. In terms of the proportion of rental housing in such cities, according to public data, it is expected that first-tier cities will remain above 30%. Second-tier cities will remain above 20%. Based on comprehensive calculation, the proportion of rental housing in these 36 cities is about 25%. "

　　According to Zhang Dawei’s analysis, judging from the regulation policies of residential and land markets in first-and second-tier cities, these cities began to change from "subtraction" measures such as restricting purchases, prices and loans in the past to "addition" measures such as increasing land and housing. On the whole, due to the continuous overweight of the property market regulation policy in 2017, the "additive supply" of cities such as Beijing began to accelerate in an all-round way, and many cities will have a large number of housing supplies in the next five years.

　　The land market will remain stable in the future.

　　On January 2, the Ministry of Land and Resources announced the results of the inspection of the implementation of residential land transfer contracts in 111 cities across the country in 2017. The data shows that since September 2017, the inspection results of 52,285 residential land with an area of 170,404.7 hectares sold in the past five years show that the national residential land transfer contract has been implemented well. Among them, the normal performance rate of the contract reached 81.8%, and the normal performance rate of eight provinces (cities, districts) such as Anhui exceeded 90%.

　　This shows that most of the sold residential land can be developed smoothly and effectively. The relevant person in charge of the Land Use Management Department of the Ministry of Land and Resources said that this inspection found that the reasons affecting the implementation of the residential land transfer contract were mainly due to the transferee’s lack of funds or interest-driven, planning adjustment, the transferor’s failure to deliver the land as agreed, and the long period of administrative examination and approval, in addition to unreasonable and uncontrollable factors agreed in individual contracts.

　　Local governments and land and resources departments have carried out case-by-case rectification for the existing parcels, and at present, rectification measures have been formulated for more than half of the defaulted parcels.

　　Zhang Dawei said that from the perspective of the land markets of major cities in China, the total land transactions in 2017 set a new historical record. Among them, the obvious increase in land supply, especially the increase in the supply of price-limited houses and rental houses, will have a significant impact on the real estate market in 2018.

　　"From the current inventory structure of the real estate market, first-and second-tier cities have basically completed the task of destocking. Under this circumstance, many first-and second-tier cities have initiated policies to increase land supply in order to curb the rise of the market. " Zhang Dawei further analyzed that "by stabilizing the market supply and demand structure, increasing supply and other comprehensive measures, the future real estate market price expectation is expected to continue to decrease".

　　The relevant person in charge of the Central Reference Hospital also believes that "returning to the residential property of housing" will remain the main theme of the real estate market regulation policy in 2018, and the phenomenon of increasing supply, deepening structural adjustment and demand spillover will continue, and the internal differentiation of third-and fourth-tier cities will further increase.