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A large number of newly entered lots are sending waves through the Hefei real estate market. The two getting the most attention are large portions of land in Binhu district and Feixi county.
The first lot auctioned is number N1401 in Luyang district. The 24.22-mu (1.62 hectares) land is designated for commercial service purposes. The land, with a plot ratio of less than 3.5 percent, green space ratio of over 25 percent and building density of less than 30 percent, has a reference price of 4.8 million yuan ($0.77 million) per mu and requires a 40 million yuan ($ 6.42 million) bid bond.
The bidder of this land will be required to agree in contract to introduce at least two national financial enterprises whose major businesses are banking, insurance or securities. In addition, the ratio of self-held building space has to be higher than 30 percent of the overall building space available, and the average annual tax of the businesses should exceed 2.5 million yuan ($0.40 million) in the first five years.
The land is close to the western central link of Hefei city, where there are currently not many business plots. This location is described as being favorable for the introduction of financial enterprises.
Among the many lots introduced in the land transaction market on April 18, numbers BH2014-07 in Binhu district and [2014]6 in Feixi county attracted the most attention.
Lot BH2014-07 is designated for accommodation, business and recreation purposes, with a bid bond of 200 million yuan ($ 32.13 million). The land is 831.63 mus (55.47 hectares) in size, of which 254.85 mus (17.00 hectares) will be for accommodation and 576.78 mus (38.47 hectares) will be for recreation.
This land consists of four separate plots, each requiring a different plot ratio. The bidder is required to have received over 5 billion yuan income ($0.80 billion) in the cultural industry during 2012 or 2013; and there will be a big recreation center by 2017.
The large land in Feixi county ([2014]6) covers 520.89 mus (347.43 hectares) and is designated for business purposes. The bid bond is 5 million yuan ($0.8033 million). Land transactions have been really popular in Feixi since March, reflecting an increasing popularity in this location.
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