Hangzhou: The Second Wave of Price Cuts; Villa Price Cut In Half at Lin'an Development

A colorful Chinese idiom for price cuts is back in the headlines: 腰斩, an imperial form of execution involving cutting someone in half at the waist. This time it is villa prices in Hangzhou.

Villas are unattached homes. Sometimes they are stacked close together, sometimes they have a bit more room. Sometimes the sale price is competitive on a per sqm basis, but most often these are luxury properties with high prices per sqm and overall, given the larger area. In Beijing recently, villa prices rose even though home prices have seen weakness.

You can the property discussed in the article here: 湖光山社

According to the data at the link, it hit the market in April 2012. People in the area received text messages saying, "Buy A Villa at Apartment Prices!" and "Price Cut in Half." However, when the reporter called, he found that there was only one home offered at that price. Still, the sales agent revealed that the homes currently sell for ¥7000 / sqm, down from ¥12,000 to ¥13,000 / sqm, which is a decline of 40 to 50%.

The property is in Lin'an district of Hangzhou. Overall, the average price of homes sold during Q1 in Hangzhou was down 11.3% from last year and volume was down almost 38%, but the number of homes and area for sale were up 36.2% and 36.2% yoy, respectively.

Yesterday, Hangzhou property market ushered in the opening of this year's largest tidal wave, 12 real estate focused on the opening weekend. Meanwhile, Hangzhou property market has been filled with the second wave of price cuts, price cuts, a lower opening, special rooms and other promotional means endless. Following the March Hangzhou property market "horse for the first down," the second wave in late April caused the price, especially for a substantial price reduction Lin'an Qingshan Lake high-end residential sector, so that the original firm has been involved in a round of high-end residential market price cuts.

" villa sell apartment price "became the second wave of price cuts in the property market in Hangzhou mark this year. "6388 yuan / square meter, single-family sales crown achievement Hangzhou! lake and mountain community [ News Price apartment Review ] Fold liquidation huge benefits! grab earn! "Recently, in Hangzhou, Zhejiang Liu received seven years to such a "villa sell apartment price" message. He learned then call the sales office said real estate is located in Hangzhou Lin'an Qingshan Lake, the lake and the mountains SMS estate agency, according to 6388 yuan / square meter price, a 400 square meters of the total amount of monomer present as long as 3 million villa million, representing in the previous prices, "the equivalent of playing on the break."

April 23, Daily News reporter to call the buyers as sales offices mountain lake community, it was introduced, priced at 6388 yuan / square meter house price is 305 yuan, equivalent to the price of an ordinary apartment, but belong to a special room, only one.

However, the sales staff said, although only one set, but the project is currently an independent villa price has dropped to 7,000 yuan / square meter, the average selling price in the previous 12,000 yuan -13 000 yuan / square meter, "the equivalent of playing five , 40%. "

Mountain lake club or just move the current mansion a microcosm of the market. Data show that since the first quarter, sales area Lin'an city blocks 70.35% of the total sales area, mansion-lined plate Qingshan Lake area accounted for only 9.25% of sales.

Hangzhou official statistics: the first quarter, the average price of commercial housing turnover Hangzhou fell by 11.3%, while the volume of 10,112 units, down 37.8%. Currently, Hangzhou commercial housing turnover volume and price down facing the situation.

In addition, the pressure on the stock Hangzhou property market continues to rise, as of the end of March, Hangzhou salable commodity housing 76,004 sets of salable area 9,981,000 square meters, an increase of 36.2%, 32.6%. In the first quarter of 2014, the economic situation analysis meeting held in late April in Hangzhou, an official analysis, said:. "Hangzhou property market is facing downside risks."

No comments:

Post a Comment