The price per square meter breaks through 100,000 RMB, with a premium of 150%, giving birth to a new "price per unit land king" in Shenzhen.

The floor price of residential land in Shenzhen has exceeded 100,000 yuan per square meter for the first time. On the afternoon of June 5th, a plot of land in the T204-0153 area of Yuhai Street in Nanshan District, Shenzhen, underwent auction. The construction land of the plot is 14,116.04 square meters, with a starting price of 23.02 billion yuan. It is reported that six top state-owned enterprises including Poly Real Estate, China Resources Land, China Overseas Property, China Merchants Shekou, Jianfa Real Estate, and Yuexiu Property participated in the bidding. The bidding process was intense, with Poly Real Estate eventually winning the land for a total price of 57.72 billion yuan after 291 rounds of bidding, with a premium rate of 150.74%, equivalent to a floor price of about 10,870 yuan per square meter. This price significantly exceeds the previous record of 84,200 yuan per square meter for the Guiwan plot in Qianhai in 2025, setting a new record for the price of residential land in Shenzhen.