The annual land price income is expected to reach 105 billion yuan

The annual land price income is expected to reach 105 billion yuan

Land sales revenue has always been an important source of finance for the government. It has benefited from the booming property market in recent years and has continuously created a new land king. It has repeatedly driven the government to sell land revenues. However, since the property market peaked last year, developers’ bids have been “no longer In the past three months, there have been two more landmines in the past three months, which has caused the land price income in this financial year to shrink. It is estimated that the final actual income will be only 105 billion yuan, which is the lowest in the past three years. It is expected to be nearly three. For the first time in the year, the actual land price income is not up to standard. It is no wonder that the Financial Secretary has predicted that the fiscal surplus will be greatly reduced this year.

First fiscal year below budget

As of the current financial year, together with the logistics land, data centres and gas stations, the Lands Department has sold a total of 14 plots through tendering, involving a total of 75.795 billion yuan in land sales, taking into account 20.164 billion yuan in land premium income. It recorded a land price income of 96.259 billion yuan. Compared with the estimated annual land price income of 121 billion yuan in February last year, there is still a gap of about 24.741 billion yuan.

The financial year is completed at the end of March. According to the land sales arrangements of the Lands Department, there are still two land sales sites in the next two months which are expected to be awarded, including the Tai Po Pak Shek Kok Yu King Lane which will be closed on February 8. The residential area at the junction of the Bo Yan Road and the Changsha South Road residential site on Lantau Island, which was closed on February 22, the market estimates that the two sites will bring a maximum of about 8.75 billion yuan in revenue to the Treasury, meaning that even if all were successfully awarded, this The total land premium income for the financial year is only about 105 billion yuan, which is still about 16 billion yuan (13.2%) lower than the budget. It is the first