Sellers Dumping High Priced Homes Demand Cash; 60% Anonymous

According to an agent in Shanghai, 60% of high priced homes are sold by anonymous parties: no name, fake names or a company name. There is speculation that officials are dumping properties ahead of the national real estate listing system coming in effect. In the except below, a large block of apartments worth nearly $100 million was offered at a more than a 20% discount in order to move it quickly, eventually selling for more than the asking price. Prices have climbed back to the market rate.

A listed real estate agency property consultant told the 21st Century Business Herald, in addition to the agency, but also a large number of these mysterious listings market transactions in various forms, such as in the acquisition of property rights exchange through the project, and some transactions from outside the fundamental do not see the flaws, "Even if the authorities concerned to intervene, it may be difficult to identify."

In early April, a large number of listings Shanghai Zhongshan Park business district traded, price 22,756 yuan / square meter. And that time, prices for the same price as a lot more than 30,000. This is actually a very low-profile selling. Lin Jingjing but enough to cause vibration of this circle. Advertising is written like this: Shanghai Zhongshan Park business district, and the entire apartment is for sale. In fact these purely residential property, a layer of four, a total of 120 apartments, a total of 30 layers, total 490 million listed selling.

April 25, 2014, the entire apartment above total turnover of 588.2 million yuan, 26,800 yuan per sqm, compared to the previous listing price 22,756 yuan / square meter, while turnover increased a lot, but still below the market price above 30,000 yuan per sqm.

21st Century Business Herald investigation learned that building is a wholly owned subsidiary of a Hong Kong institution's to 588 million yuan bid for these homes. In other words, this large number of houses, not to the time within a month, successfully changed hands.

This was in Shanghai where demand is strong. If this type of sale were to occur in Hangzhou or other weak markets, it could pull prices lower. There has been huge speculation about the number of empty apartments in China and who owns them. Many bearish forecasts were based on these properties eventually coming into the market. That time appears to have arrived.

楼市现“诡异”抛售形式 房主要求现金交易

trading house are many aspects of the client contact. General to the final signing, homeowners will personally come and generally require cash transactions, not through financial institutions.

Dragon Boat Festival, Shanghai. House sale "agent" Lin Jingjing has been a couple about to diffuse Jinhui Road, Minhang District, coffee, and negotiate the sale of real estate pricing, and signed a power of attorney.

As the couple and their two relatives of the sole agent, Lin Jingjing shoulder three total price was 8 to 12 million yuan listings ranging. June 3,4 two days, the two sides to deal with the power of attorney notary procedures.

"A lot of people are selling high-end real estate is very mysterious. Difficult to determine whether your buyer is doing, but our industry in general default this style, the likelihood is official. levels more often the greater mystery . "in real estate practitioners in the field for 12 years in a Shanghai real estate property consultant said.

Aforementioned property consultant, homeowners generally not listing the location of many links throughout the trading houses and homeowners are friend or client contact. General to the final signing, homeowners will personally come and generally require cash transactions, not through financial institutions.

Some sellers, even to the stage to a full transfer of the principal, the temporary change in circumstances, the principal only on the phone, "consult."

Sole agent

Lin Jingjing is a real estate agent in the high-end real estate property consultant agencies, in particular the identity of the other is dedicated to make high-end customers, "agent."

Since the Chinese New Year open various channels of news shows around the luxury market in the sudden increase in supply. Lin Jingjing introduced to the Shanghai market, for example, behind the mansion, some point to a mysterious figure - official.

Lin Jingjing is the name of the client, to her, according to sources at the time of the interview between other words, it should be a city in the Yangtze River Delta deputy county officials.

Related to property consultant Shanghai state-owned nature of the real estate company, to expand the supply of luxury, especially within the inner ring of the network. Selling residential property owners holding 60% of anonymity, pseudonyms or company name only. Most property owners of vacant or rented to relatives, friends, no rental contract; owners of properties for sale are required to cash transactions, without the financial institution; shot all property owners in dealing with a lawyer, the owners do not show up in the transaction process.

As the delegate responsibility, compared to ordinary transactions, particularly in high-end real estate agency commission the project will be higher, "usually around five points higher."

And Lin Jingjing and colleagues found that "is not entirely official listings, some ordinary duties of civil servants there, and there are some other mysterious sellers, selling two years ago, they have a tendency to focus after the Spring Festival this year began intensive up of. "Lin also found that the last two months to sell customers, especially multi-agency, an increase of about 30% than before.

Officials property value of public policies to promote intensive, local officials continue to emerge estate sell-off. Reporters in Shanghai, Hangzhou, interviews, everyone found so. Many market intermediaries marked "urgent throw" key words "Government Listings" and so on, so that the relevant listings filled with mystery.

Moreover, in the transaction process, because sellers Jishou, again at lower prices, the situation is completely a buyer's market.

Due to the high-end second-hand housing large units, the total price of the characteristics of high, its trading cycle is longer than the average second-hand house, waiting for the transaction process, many homeowners are anxious to sell the initiative to lower the price, the total price of tens of millions of listings Many price amounted to about one million yuan.

The sell-off in the form of strange

A listed real estate agency property consultant told the 21st Century Business Herald, in addition to the agency, but also a large number of these mysterious listings market transactions in various forms, such as in the acquisition of property rights exchange through the project, and some transactions from outside the fundamental do not see the flaws, "Even if the authorities concerned to intervene, it may be difficult to identify."

In early April, a large number of listings Shanghai Zhongshan Park business district traded, price 2.2756 yuan / square meter. And that time, prices for the same price as a lot more than 30,000. This is actually a very low-key selling. Lin Jingjing but enough to cause vibration of this circle. Advertising is written like this: Shanghai Zhongshan Park business district, and the entire apartment is for sale. In fact these purely residential property, a layer of four, a total of 120 apartments, a total of 30 layers, total 490 million listed selling.

April 25, 2014, the entire apartment above total turnover of 588.2 million yuan, 26,800 yuan listing price, compared to the previous listing price 2.2756 yuan / square meter, while turnover increased a lot, but still below price, time, the same location that the rate is at least 30,000 more unit.

21st Century Business Herald investigation learned that disk access is a wholly owned subsidiary of a Hong Kong institution's to 588 million yuan bid for these homes. In other words, this large number of houses, not to the time within a month, successfully changed hands.

The appearance of these properties, so that prices in this region suddenly punched a price depression, the month, there is an intermediary website monitoring prices "K Line" trend, a decrease of ten percent or more. After two months of wandering, now back to the normal price of 30,000 yuan per square meter.

"Such a large number of residential houses, actually in less than two weeks, they were all then set up." In this regard, Lin Jingjing circle controversial intense. Lin always believed that this listing is very strange deal.

More than one real estate agent in charge of the newspaper also said that this sell-off in stocks in the high-end housing, last year began to appear. Market participants perceived more obvious during the time the node is in June and July last year.

That time the overall downturn in the Shanghai property market, but on the contrary, the high-end items, but around the corner. Last year in July, the Shanghai property market boom in luxury residential transaction. Price 50,000 yuan more than the city's high-end real estate transactions proportion of 7.6% compared to the previous week and an increase of 2.6 percentage points. Meanwhile villas and townhouses listings intensive supply volume.

In this regard, Blissful real estate market research had periodic monitoring data. Then 15 to 21 July, the city's price 50,000 yuan / square meters of commercial housing a total turnover of 54 high-end units, an increase of 19 units compared with the previous week. Luxiangyuan sold 16 houses in one fell swoop, and are more than 200 square meters large apartment listings, Guoxin Century Seaview [ News Price apartment review ] Park is sold five houses. In addition, the traditional luxury Lujiazui COFCO Seaview Heights [ News Price apartment Comments ] sold a 592 m2 duplex houses, price up to 182,800 yuan, the total price as high as 108 million yuan, Shanghai became the first set of one hundred million yuan apartment listings.

Public property spawned selling?

Why sellers Jishou? Lin Jingjing and colleagues learned, and emerging news on the recent " real estate tax expansion, property of public officials, "there is a direct link. And every time the news appeared dense, often commissioned by the customer will be more.

From the public policy perspective over the succession, officials announced property is indeed in the process of accelerating the. Previously, Xinjiang, Anhui, Zhejiang, Jiangsu, Guangdong and other places, there are some public officials, property spontaneous pilot.

November 29 last year, two weeks after the end of the Third Plenary Session of eighteen, the Central Commission for Discipline Inspection Supervision website published the article, the interpretation of the Third Plenary Session "decision." Which proposed new disclosure system of leading cadres promoted personal property will be the pilot.

Articles published recently in some parts of the requirements listed property spouses and children are also published. For example, the Shaanxi Provincial Office recently published "on the implementation of the new leading cadres promoted significant matters of personal and family financial disclosure filing comments," specifically includes "I marriage, holding to go abroad (border) documents and abroad circumstances"; "spouse, children moved to the country (territory) situation and practitioners situation." "Declare their spouses and children living together belongs property."

"Some ill-gotten gains is not financial, but check up trouble, multi-less attitude." Lin Jingjing, and some agent learned feel panic since the source has more suites officials and their families for some time, "abandoning Choi how to protect yourself, "was put on the agenda.

Work plans have been released by the State Council, said recently that China will implement a unified real estate registration system. Prior to May 25, Ministry of Land and Real Estate Registration Office was formally established.

In a recent sell-off in high-end residential homeowners and mysterious identity of the trading process, leaving a sudden increase in the luxury market sources Truth confusing.

According to the Economic Observer newspaper published reports, the commission had informed the disclosure, since November last year to January this year, during which officials of the most powerful selling luxury residential Guangzhou and Shanghai, respectively, for the 4880 and 4755 sets of sets, sets of Fuzhou and Jinan in 1240 and 1210 sets of ranks last. The villa places Hangzhou topped 412.

A first-tier cities in Yangtze River Delta CCDI system staff told us about the situation officials Sellers, Discipline is the key field monitoring. Indeed last year, there have been investigations Discipline System in selling high-end listings, a number of unusual phenomena intensive appear. Anonymous, pseudonymous property owners require cash transactions and conceal their true identity. After verification of the original record year, funds between accounts, residential location, etc., are part of the owners to sell the property belongs to the state public officials, senior management of state-owned enterprises.