Wenhuidao Landmark Price is less than 24 billion
The head of Wenhui Road, the top of the road, the Director of the Development Bureau, Huang Weilun, revealed that the developer’s entry price is lower than the market valuation, and the lower valuation limit is about 24 billion yuan, or about 60,000 yuan per trip, which is lower than the land price of at least 3 years ago. Nearly 30%, reflecting that developers are conservative towards the luxury market.
Huang Weilun responded to Wenhui Road’s land flow mark yesterday, saying that the government’s proposed reserve price is based on the latest market price and was set by the experts of the Lands Department on the morning of the closing of the last Friday (12th). The government will not announce the reserve price but emphasizes The reserve price is very reasonable.
Huang Weilun also revealed, “If you pay attention, until the opening of the bid, the market still has an estimate of more than 24 billion to 48 billion, and the price is lower than this price." He added that for developers to price and wait and see, The government is fully respectful and has no further comments.
If the market is based on the closing date, the market will estimate the land price of 24.26 billion to 48.52 billion yuan. According to the building capacity of 404,000 square feet, the floor price will be between 60,000 yuan and 120,000 yuan. According to Huang Weilun’s statement, the bids of the five groups of the consortium are lower than the market valuation limit of 24.26 billion yuan (60,000 yuan per trip).
Hedong Garden Land 3 years ago, the price of 82,000
Although the land is estimated at 24.26 billion yuan and 60,000 yuan per square foot, the land is still expected to become the most expensive landlord in the territory of Hong Kong. It broke the 2006 new land (00016) and won 42,000 yuan per trip. The record of the land of the mountain road, but the land price in the same area of the mountain peak has risen significantly in recent years, and the developer’s bid is very conservative.
For example, No. 75 Peak Road, Ho Tung Garden, changed hands with $5.1 billion in 2015, with a floor space of 62,000 square feet. The floor price is about 82,000 yuan. For the second Wenhuidao plot, the developer’s bid is less than 60,000 yuan per trip, which is at least 27% lower than the land price of more than three years ago.
If Lai Haimin, the chairman of Hongrongyuan, bought the No. 37 site of Baijiadao for nearly 3 billion yuan, the existing floor can be rebuilt according to the existing 25,000 square feet of the project, that is, the land price per land is about 120,000 yuan. The developer’s bid for Wenhuidao Land is a “five percent off" investment, reflecting the conservative view of the market outlook of the luxury market.
Mr. Zeng Huanping, managing director and head of the capital market department of Jones Lang LaSalle, believes that super luxury homes are difficult to sell in the form of uncompleted flats. In addition, hundreds of millions of dollars are spent on the scale of Wenhui Road. The sales cycle is likely to be more than 10 years long and will be vacant. As a result of the tax, the price of luxury homes may have fallen by 20%. According to this calculation, the land price of luxury homes should also be at least a discount of 2 to 30%.
He believes that the actual market value of Wenhuidao Land is about 20 billion yuan, and the floor price is about 50,000 yuan. If the developer bids 24 billion yuan, it is already aggressive.