杨红旭

YangGongXu

　　全国单价新地王日前在北京火爆出炉。海淀万柳地块拍卖现场，经历了10次网上报价、46轮现场竞价以及300多轮配建回购房面积竞争，民企中赫置地以26.3亿元的最高上限价格、配建16400平方米回购房的条件力压群雄，楼面价为3.38万元/平方米，若剔除回购房因素，则楼面价约4.02万元/平方米，再创全国单价地王的纪录。

The unit price new royal in Beijing recently released hot。Haidian wanliu plot auction site，Through ten times quotes online、46 round the scene and several rounds of bidding PeiJian back to the area that buy 300 competition，Corporation in with 2.63 billion yuan trading Hector limit price、PeiJian 16400 square meters back to buying pressure conditions force league，Floor price for 33800 yuan/square metre，If you eliminate back to purchase factors，The floor price of about 40200 yuan/square metre，The unit price of the star again record。

　　社会关注非常强烈，舆论反应非同凡响。到底该如何看全国新地王的诞生？

Very strong social concern，Public opinion reaction dynamite。Exactly how to see the birth of the new star？

　　其一，地王并非什么“怪物”，客观而言，这是房地产市场化的一种表现。自从上世纪80年代末我国实行土地批租制度以来，城市中的优质地王，本应比郊区的地块更值钱。2004年实行土地出让 “招拍挂”制度以后，土地出让中的权力寻租大量减少，土地成交价格比之前更接近本身的价值，这是市场进步的表现。

one，Royal is not what“monster”，Objective in，This is a kind of expression of the real estate market。Since the 1980 s China carried out at the end of the land is provided since the system，The city star quality，This should be more valuable than suburb of plot。In 2004 the land transfer “Recruit take hang”System after，The land transfer the power rent-seeking a lot less，Land price is more close to clinch a deal before the value of itself，This is the market progress of performance。

　　其二，地王的出现存在一定负面影响。无论是单价地王，还是总价地王，其出现往往意味着市场温度上升。如果是在市场低迷期，倒也罢了；如果是在市场繁荣期，往往会助涨市场预期，使开发商和民众认为地价和房价还会继续上涨。典型情况是，一个地王出现后，其周边的在售楼盘和二手房，很快就会上调价格。

The second，The emergence of the star, there are certain negative impact。Whether you unit price，Or price you，It appears the market often means temperatures rise。If it was in the market downturn，Pour all right；If the market is booming，Often can help up market expectations，The developers and people think that land and property prices will continue to rise。Typical case is，A royal appears，The surrounding buildings and sold in the secondhand the room，Soon the meeting price。

　　其三，万柳地块这个全国新地王有点“不合时宜”。从地方政府出让土地角度，以及企业购地角度来看，地王何时出笼其实不太要紧。市场热时，有利于地方政府获得更多土地出让金；市场凉时，有利于开发商少花些钱。当前的房地产调控形势处于敏感节点，随着商品住宅成交量持续多月的反弹，房价也出现了止跌上涨的苗头，这与房地产调控的方针有悖。正是在这种背景下，上周国务院总理温家宝在江苏调研时强调，目前房地产市场调控仍然处在关键时期，调控任务还很艰巨。必须坚定不移做好调控工作，绝不能让房价反弹。而此时，在多家开发商的激烈拼抢下，全国新地王现身，或多或少地向市场传递了地价、房价上涨的信号。

thirdly，The national new royal wanliu plot a bit“untimely”。From the local government land Angle，And enterprise purchase terms，When you launch actually not too serious。Market hot，Local government to get more land transfer fund；Market cool when，For developers to spend less money。The current real estate situation control sensitive nodes，Along with the commodity residential house for more than a month, the volume of rebound，House prices have appeared to the rise of the reason appearance，And real estate control policy against。It is in this context，Last week the state council premier wen jiabao stressed in jiangsu research，Real estate market regulation is still in critical period，Regulation is very arduous task。Must unswervingly well control work，Never let a house prices rebound。And right now，In many developers under the fierce fighting，The new star appeared，More or less in the transfer market to land price、House prices rising signal。

　　其四，地方政府还是花了些心思。2007年以来，国家的房地产调控部门，对于地方采取的是“控制性”指导方针，并不希望各地不断出现地王，甚至某些时间段严禁地王。不过，市场无形之手和政府有形之手，总在是较劲，不宜放纵，也难以严控。于是，作为地王的出让方，地方政府承受了较大压力。此次，北京海淀区还特意设定了一个最高价，也即26.3亿元封顶，其后若有开发商继续竞拍，则进入竞配建回购房阶段。按26.3亿元计算，则楼面价为3.38万元/平方米，虽高却不至于成全国新地王。而之前的全国住宅单价地王，是2011年6月浙江义乌的一幅小地块，楼板价高达3.95万元/平方米。结果，业界人士剔除回购房因素，万柳地块仍破了4万元大关，受到外界热炒。

Its 4，The local government or spend some of idea。Since 2007，National real estate control department，To place is taken“controlling”guidelines，Do not want to continue to appear all over you，Even some time you are strictly prohibited。but，Market invisible hand and the government of tangible hand，Is always in the fighting，Unfavorable indulgence，Also difficult to tight control of。so，As the king shall be，The local government was under great pressure。the，Beijing's haidian district also specially set a maximum price，That is 2.63 billion yuan seal a top，If developers continue to auction later，Into the race PeiJian back to purchase stage。According to the 2.63 billion yuan calculation，The floor price for 33800 yuan/square metre，Though not the new high but a king。And the national housing unit price before you，June 2011 of zhejiang yiwu a small plot，Floor price as high as 39500 yuan/square metre。The results，The professionals eliminate back to purchase factors，Wanliu plot is still broke 40000 yuan RMB，Folly, get the outside。

　　其五，在这新地王产生之前，《人民日报》刊发评论文章，指出在调控关键期，央企参与地王争夺并不合适，而应积极协助政府搞好调控，不能只盯着自己的账本。结果是，保利地产(600048,股吧)临阵退出。虽然央企也是现代企业，应允许其在商业规范之内市场化运作，不过确实还需汲取以前央企爱当地王的教训。地王项目，可能是高回报，也可能是高风险。当前，一线城市的少数昔日地王项目，在如今豪宅市场低迷的局面下，不得不薄利促销，甚至赔本赚吆喝。而央企的特点是资源丰富，尤其是融资渠道多、成本低，原本就有民企不具备的优势条件；另外，地王项目赚了，领导者脸上有光，即便赔了，对一些央企来说也不会伤筋动骨。

Its 5，In this new royal produce before，《People's Daily》Commentary published，Points out that the critical period in regulation，Scholars from renmin star is not appropriate for participation，And should actively assist the government improve regulation，Not only looked at his account book。The result is，Poly real estate(600048,Shares it)Holding out。Although scholars from renmin but also the modern enterprise，In business standards to the market operation within，But there still need to learn before the king of local scholars from renmin love lessons。Royal project，May be of high returns，Also may be high risk。The current，A line of former royal city a few projects，Now a person of extraordinary powers curtilage the market downturn in the position，Have to small profits promotion，Shouting to make even in the red。And the characteristics of the rich resources of scholars from renmin is，Especially the financing channels、Low cost，Already have corporation does not have the advantage conditions；In addition，You project to earn，Leaders face have light，Even if the loss，For some, it was also won't get into muscle scholars from renmin。

　　总而言之，全国新地王的诞生，从市场角度来看，无可厚非；从房地产调控的角度看，却有碍观瞻。正如一个月内连续两次降息，从稳增长角度看，非常必要；从房价合理回归角度看，却略添麻烦。无论万柳地块的身价有多高，都不宜因此企望调控会有丝毫松动。

overall，The birth of the new star，The market's view，understandable；From the view of the real estate regulation，But are much more。As a month for two consecutive times to cut interest rates，From the perspective of steady growth，Very necessary；From the perspective of regression reasonable prices，But slightly trouble。There are no matter how high the plot is，Shoulds not be so desire a bit loose regulation。

　　（作者为上海易居房地产研究院副院长）

（The author for Shanghai enjoysmart real estate, vice President of the institute）