TREE NEWS update: Nanjing auctioned four residential land plots on November 12, with all four selling at the reserve price for a combined 2.185 billion yuan. The parcels cover a total land area of 75,542.94 square meters and a planned gross floor area of 145,647.78 square meters, with the same 2.185 billion yuan total starting price.
Nanjing sells four residential plots at reserve price for 2.185B yuan
AI take
The fact that every plot cleared at the reserve price, with no premium, points to cautious developer appetite in Nanjing rather than a bidding contest. This matters for local land revenue and for the pipeline of future housing supply, since reserve-price sales signal buyers are pricing in risk rather than competition. Whether this pattern holds in subsequent auctions is the open question worth watching.
Generated by AI for reference only.
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