In July 2026, the land market entered a phased correction after experiencing concentrated volume in June. Both supply and demand sides showed a month-on-month decline, yet competition for high-quality residential land in core cities is still fierce. According to Kerui data, the construction area of the 50 key cities in the month was 9.7936 million square meters, down 9.1% year on year and 18.0% month on month; land transaction area was 8.7764 million square meters, down 17.2% year on year and 25.9% month on month; the average premium rate fell back to 14.93%, down 8.13 percentage points from June, but still 4.32 percentage points higher than the same period last year. High-value land plots in core cities such as Shanghai, Beijing, and Hangzhou have been successfully sold, and the “absorption power” of high-quality assets has not diminished.

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