A 254-Round Battle for Prime Haidian Land
中海新城 (Zhonghai New City) won a landmark residential land parcel in Beijing's Haidian district on August 10, 2026, paying 4.6814 billion yuan after a fierce 254-round bidding war — six online rounds followed by 248 offline rounds. The floor price of 81,063 yuan per square metre is the highest for any residential plot sold in Beijing so far in 2026, with a premium of 25.84% over the starting ask.
Haidian Premium
The Jiu Xian Qiao plot sits adjacent to several established high-end residential clusters and near Zhongguancun, China's leading technology hub. Floor prices in comparable Haidian plots have ranged from 60,000 to 80,000 yuan per square metre in recent transactions, making the 81,063 yuan figure a record that reflects intense competition for scarce prime supply.
Market Signals
Despite a property sector in structural correction, the auction demonstrates that demand for premium tier-1 urban land remains robust. For Zhonghai, the 81,063 yuan floor price implies a selling price well above 100,000 yuan per square metre to generate acceptable margins — in line with Beijing's average new-home price of 53,678 yuan per square metre in July 2026.
For local governments, high land premiums provide critical fiscal revenue: Haidian district alone contributed more than 80 billion yuan in land transfer fees in H1 2026. Analysts will watch whether the second half of 2026 can sustain this pace of premium tier-1 transactions.