Develops Offer Employees Steep Discounts On Homes

One of the perks of working for a real estate developer was small discounts on home purchases. Now, these discounts aren't attractive to employees and their friends, family and others in the social circle are unwilling to buy homes. Some firms have stepped up the discounts to as much as 10% on already low prices, but employees are still slow to buy.

京房企急推内部折扣 员工认购举棋难定 “买还是不买,真是个烦人的问题” "To buy or not to buy, it's really a vexing question"
 "To buy or not to buy, really annoying questions." Zhao Gang is the project manager for a large real estate developer, a project recently their company is about to open in Beijing for internal employees have preferential subscription greater efforts, but he hesitating whether to sell ......
 China Securities Journal reporter learned that, most recently, once again silence the internal sale of housing prices in some large and medium pop up. Insiders pointed out that the current downturn compared with one hand Transaction hand, housing prices continue to lengthen inventory to cycle, developers active in the largely internal to subscribe to the inventory in response to the pressure impulse performance. Some inventory pressure housing prices in the future may be resorted to more promotional initiatives.
 "Internal discount" is no longer attractive
 Zhao Gang got on "internal discount" document says: employees buy their own can enjoy 95% discount on the total price, employee relations customers can enjoy 97% discount on the total price. In addition, housing prices in the full amount to buy a one-time internal staff can then direct reduction in cash 10,000 yuan; mortgage loans to purchase, you can direct less cash 6,000 yuan.
 Faced with this "internal discount", Zhao Gang little dilemma. "It was a few years ago if everyone certainly fight broke head rob, knows the investment house can not lose. Available now how to price movements, internal company there are also differences."
 Zhao Gang told the China Securities Journal reporter, shortly before the real estate in the internal promotion conference, company leaders also promised to employees, if employees lack the down payment, you can pay a part of the lack of parts can be issued until the end of the year award and then make up. "But even so, everyone's buying enthusiasm is not very high."
 Not only that, the company also encourages employees to recommend "customer relations" and, where appropriate, to give some incentives. The Gang told the news surrounding the internal subscription friends and family, we did not like the previous years, scrambled to "get set." "It is impossible thing in the past."
 China Securities Journal reporter learned that Zhao Gang said the project is located in Daxing District of Beijing, are commercial and residential projects disk. Although close to the subway station, and the sale price is lower than the surrounding opening the same type of project, but the current situation is not very satisfactory pre-sale. When reporters visited the real estate sales offices and found that many people come to counseling, but really not many people pay orders.
 Zhao Gang said that this is nothing. "We had the pre-sale price of the item is not high, so the internal preferential simply is not big, I know a lot of inner strength subscription price of housing prices this year are quite large, and even less than 10% of." According to him, a Housing prices listed for this year's sprint performance goals, to open a new project in Hainan, the home is open to employees, internal subscription price lower than the market price by more than 10%.

Change the taste of "employee benefits"
 Zhao Gang said: "Although there is no direct leadership of the company said, but inside, then outside, then all trace of worry and frustration because we all know that a large pre-sales target this year to complete the internal difficulty selling at least part of the subscription to relieve stress.."
 Central Plains real estate market research director, said Zhang Dawei, a lot of housing prices in the market early overly optimistic, developed a higher sales target, as the market pressure behavior is expected after June there will be more and more housing prices down for the year sales target .
 Deutsche Bank recently released a report, Hopson, BCL, POWERLONG CCRE and ocean front real estate and many other real estate sales in April this year, less than 20% of its annual sales target, said housing prices can not be completed or This year sales target.
 Many, including the real estate industry, including Gang told China Securities Journal reporter, due to internal subscription price significantly lower than the market price, and the priority selection room, internal subscription has been housing prices are regarded as additional "employee benefits" .
 "In the market, especially the fire, our index was little internal subscription, not everyone can buy on." While talking about really is "employee benefits," Gang told reporters a real case: before and after 2009 They company has a colleague, go to buy a subscription of five sets of commercial and residential interior LOFT. Preferential subscription was inside a larger bank loan interest rate discount is relatively large. "This year my colleagues put the whole house was sold, net profit of 500 million. Then went on to resign dry private."
 Zhao Gang said the "earned five million years," the story was in real estate circles for the elephants, and even their internal employees are often used to talk about the matter. "However, the current property market conditions and that time has been different. Previous internal promotion of employees when there is a leadership that we now buy, earn at least 50 percent next year, to hand down a time to sell hundreds of thousands of good earn it. "He also revealed that the majority of commercial and residential projects are due LOFT small area, when many former colleagues in the internal sale, will be selected by virtue of the right of priority housing, bought the two next to the house, and then two houses to sell at high prices to get through together. "That's why a lot of suburban counties of Beijing house often 'a room two cards' reasons."
 Now, however, "Zhao Gang are" hesitant, after all, most of them already have their own houses. They do not know how the next market regulation policy change, do not know how to levy property taxes in the end? If they sell now stepped on market prices high, then how can the face of falling house prices?
Survey Research Center of Chinese families with financial Southwest University of Finance recently released "Urban Housing vacancy rates and housing market trends 2014" shows that urban households own a serious oversupply of housing, the existing housing stock can meet the housing needs of the existing housing 40% of the annual supply of new housing to meet the annual demand. China willing to plow household financial investigation and research center director believes that the current real estate market in our town there is a higher homeownership rate of its own, excess inventory, vacancy rate, reducing the rigidity of housing needs and so on. Thus prices downward trend has been set, the inflection point is clear that China's housing market coming winter.
Dawei also believes that the current downward trend in prices has been very clear. "The market adjustment compared to 2008, the market adjustment in 2011 resulted in suppression of emerging policy, there are two different points: First, the real estate prices led to mortgage funds, development of credit tightening; Second is the overall property market supply farewell absolute shortage, three-wire, four-tier cities oversupply. "Dawei said that the domestic real estate market for the first time since the non-policy factors leading to depressed market, it is possible to make the round and depth adjustment cycle is longer, particularly non-core city, non-urban core area are likely to experience significant price adjustments.
Housing prices in competing price run

  Zhao Gang told reporters that the company attaches great importance to internal subscription, a large factor is to reduce pressure on the stock. "Beijing has always been here, the company's profit contribution to the core sector, if we die, the future had a hard ah."

  Insiders pointed out that, although the rates much higher than other regions, but the deep north of Guangzhou and other cities in the strong support of the real estate market demand, the overall situation is still better than the second-tier and third-tier cities. However, since the property market this year with the full cooling, first-tier cities are starting to be affected, severe volume shrinkage, inventory began to grow rapidly.

  Insiders said that the internal subscription is just the "tip of the iceberg," the follow-up of housing prices will increase promotional efforts. It is understood that with the beginning of the year "kicked upstairs" The difference is that the current market real straight down, discounts, etc. become mainstream, including Vanke, Evergrande, Poly and other national brands in a number of developers have gradually City price, have adopted a "price run" sales strategy.

  First-tier cities are also under pressure somewhat loose inventory. May Vanke have begun to implement "price change" strategy in Guangzhou, Shanghai and other cities of the estate. Notably, the recent seasons in Beijing Yizhuang Pearl Joy launched a "holistic no down payment" promotion policy. These real estate sales results remains to be seen.

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