When local governments auction land, there is a basic price, which is called the base price of land. The ratio of the amount that exceeds the base price of land to the base price of land is called premium rate. The premium rate indicates the popularity of the land market and the property market. There is a piece of land in City B that was temporarily suspended during its first listing this year because the premium rate will hit a record high. The second listing ended up trading at a premium lower than the first listing, but the total amount of the transaction exceeded the amount that could be achieved the first time.
When this piece of land in city B was listed for the second time, the competition among the developers was much fiercer than the first time best explains the seemingly inconsistent phenomenon mentioned above.