Shanghai Sells Three Residential Plots for 12.91 Billion Yuan

A clean sweep of all three sites, with two drawing premiums and one bid up nearly 30%, points to developers still competing hard for core Shanghai residential land even as broader property sentiment stays cautious. The concentration of demand in a single tier-one city suggests capital is picking its spots rather than returning broadly to the sector. Whether this appetite holds through subsequent batches, and whether it extends beyond Shanghai's most sought-after districts, is the open question.