Residential Land in Jiading, Shanghai Sells at Ceiling Price, Breaking 2016 Record

[Residential Land in Jiading, Shanghai, Sold at Ceiling Price]

The first residential land parcel offered in Jiading District, Shanghai, this year was sold at the ceiling price, breaking the floor price record in the Jiading New City area that had been maintained since 2016. The Jiading New City F03A-4 plot in Jiading District attracted four bidders and reached the suspension price after 49 rounds of bidding, entering the high-quality index competition phase. Ultimately, Shanghai Hongrun Real Estate Co., Ltd., a subsidiary of China Merchants Shekou, won the plot with a bid of 2.6603 billion yuan, along with the maximum residential decoration standard of 3,000 yuan, a public service area cap of 1,500 m², and a 0.2% allocation ratio for high-end talent housing. The deal reflected a 30% premium, with a transaction floor price of 31,850 yuan/m².