Guangzhou Developer Ruins the Mood

Interest in home buying has perked up since the PBOC loosened mortgage rules, with more inquiries about mortgages and more customers visiting properties being reported in the press. Now a developer has gone and soured the mood. High level executives are involved in fraud and the company needs to raise cash to finish projects.

广州一房企爆发资金危机 购房者担忧会跑路

Some of the smaller size of the project and the management model of a single small micro developers, funding is subject to "feel the burn." The local housing prices in Guangzhou Yi Peng real estate is facing such a dilemma.

Recently, Yi Peng Real Estate confirmed to the media, because some high-level collusion between criminals fraud, leading to the presence of the company capital shortages, the event was referred to judicial intervention. Informed sources close to Yi Peng told reporters the South, the real estate network to sign has stalled. Yi Peng are trying to help themselves. Southern Reporter yesterday from the relevant legal profession informed, Yi Peng assets sold through channels, social financing for the completion of development and construction, as soon as possible handover to buyers, according to the contract damages. Once the transaction is unfavorable, it may go bankrupt at any time of no return.

Funding crisis

Property market remain volatile, many developers are strained due to various reasons such funds into the sensitive period of the occasion, Guangzhou Yi Peng real estate "Huoqixiaoqiang" may lead to business path of no return.

Yi Peng, a local real estate developer in Guangzhou, its development projects in Guangzhou as the center, the Pearl River Delta as well as radiation and medium-sized cities, including Beijing, Kunming and other places. As a small developer, Yi Peng total number of projects, but only a handful of gold is not low. Recently, the South Island is located near the king plate Haizhu Lake Heights Ludhiana latest issue of delay in handover detonated funding crisis.

After Lake Heights project delayed four months yet to cross floor, Yi Peng finally admitted to the media, cash flow difficulties, and the reason is that part of the high-level collusion fraud criminals outside due to the current public security departments have been involved in the investigation.

Agents of the project south are reporters on the persons concerned, the real estate because of location advantage, had no shortage of customers. But now developers big shock, the question many buyers are most concerned about is the handover time.

"This is a good June handover, to now not pay, deferred pay floor also delay to say, to be referred to the media attention has admitted that something was wrong, we now suspect that developers may be on foot." One of the real estate buyers south have told reporters that two real estate no decoration, three more have been shut down.

Southern reporter from approaching the room rate informed sources, the real estate network to sign has stalled. The Guangzhou City Housing Authority sale listings, but also no Haizhu Lake Heights and Yi-peng estate figure.

According to industry insider south are reporters that the housing prices was founded in 1995, caught up with the real estate are booming 10 years, can be considered spoils, in building design, construction, decoration, marketing, property management and other aspects accumulated some experience. But now senior development route deviation, probably unable to help themselves.

"Yi Peng Haizhu itself started in the Guangzhou market developed several real estate volume is not large, it should be said Yi Peng real estate development up to catch up with the real estate tide surge period." Radius estate Tang, chief market analyst Hiroshi south have told reporters that this small volume is not large housing prices actually more difficult to help themselves, the most likely outcome is either acquired or the outbreak of the debt problem was finally sealed by the court.

Yi Peng "self-help"

But Yi Peng real estate has not given up self-help. Police departments are involved in the investigation part of the high-level collusion with criminals acts. Yi Peng said the company will also ideas to raise funds to complete the project development.

"The company has taken various measures to revitalize the capital commitment at the latest within a year delivered to the house owners to use." Yi Peng, who broke the news, says the real estate inside. However, it seems buyers, the project has already put "dragged" posture, subsequent sales can hardly be optimistic.

Informed sources, all funds and some real estate companies have been frozen Yi Peng court, the company has to apply to the court to unseal some of the funds, once re-opened, you can start renovation work immediately.

Yi Peng will pin their hopes on the sale of real estate in the capital return. According to reports, the loss of the company, involving 70 sets of real estate there. According to the district's sales price, the average price per set at 200 million yuan, 70 suites sub-funds involved amounted to 140 million. But money can effectively return the remaining suspect. According to Yi Peng's commitment to the owners, but also in a wide range of property management fees to property owners affected certain concessions.

In this regard, buyers stressed that several aspects of the company handover failure to report, deliberately concealed phenomenon dissatisfaction. The one-year extension handover, but also to buyers disappointed, saying that developers can expect response to a statement issued by the force of law.

Southern reporter at the information obtained from the solicitor noted that the company is not the first delay the handover. 2010, Yi Peng has worked with a number of real estate buyers contractual dispute arises after the handover Yi Peng fined due to the delay liquidated damages. According to documents show was concluded, Yi-peng company failed the period stipulated in the contract submitted overdue more than 90 days of the date of actual delivery of the second day since the contract provisions of Article X of the last submitted until the deadline, according to Yi Peng Japan has delivered floor price to pay liquidated damages to 0.5 ‰ buyers.

According to the real estate buyers revealed that the project site has been left vacant, garden seen the prototype, three and kindergartens did not commence the construction site even machines have been evacuated.

Guangzhou rarely been sealed

Li Bin, former deputy director of Guangdong Green Law Firm of the South are reporters that the current situation in Guangzhou developers foot has not "rampant", the overall situation is relatively stable, relatively few cases seized, "Once the seizure occurs, usually a bank to recover mortgage funds, apply to the court to start the program. situation was postponed handover of the owners actually have been sporadic, the problem is not too serious. "

According to Li Bin, introduced before the central bank to relax the credit limit of the New Deal out slightly favorable for buyers confidence. I believe the threshold is reduced mortgage approval, will be good developer funding chain, "Our partnership mortgage center, in the first half of this year purchase mortgage down by 70%, which is more difficult first half of the loan itself, plus interest rates are high. Central bank Deal or will encourage the purchase behavior of a group of some developers should seize the opportunity, if not deliberately prices, the situation would be better than the first half of that. "

Many industries have suggested that housing prices in the new round of the New Deal in order to breathe and forever, or prudent investment, focusing on just need to push products and prudent price increases.

[Observe] small housing prices crisis

"Small developers do not fly, or buy brand enterprises in the floor." Above Lake Heights buyers helpless south are reporters Tongsu.

CRIC-based real estate analyst Li Quan south are reporters, said real estate competition period, brand enterprises still more obvious advantages, whether it is bank credit, capital markets degree of acceptance or recognition buyers, have higher than a length. The only small-scale local projects housing prices, due to the weakening trend of the industry involved, the financing will be extremely difficult, it is prone to financial difficulties.

"From the current situation, the real estate industry is still very tense capital chain, limited credit and other measures up to now not how to implement, there is not much to improve the role of the capital chain, so the impact of the Bank of New Deal or partial neutral, although the loan to reduce the threshold , but did not increase the total amount of the loan. "radius estate chief analyst ambition Southern Tang Hao told reporters.

Why is it easier for small housing prices stuck on financial issues? Tang Hao said, for single item is a carrot a pit, all the treasure are risking. The project layout balanced housing prices, the funds have maneuvers, room for deployment. In the key nodes, to secure respite is to win vitality. "Like some trouble and medium-sized enterprises are in the self-help housing. Many disk Guangdong local developers have a separate resolution to sell some of the items packaged to sell the entire parcel, and some can continue operating on leave forward, but no expansion. "

Tang Hao Chi revealed that at present many housing prices involving a wide range of business risks, and the treatment options are either shrink the size of these companies, or is acquired.

A medium-sized housing prices in South developers south are reporters, due to continuous shuffling is expected there will be some annexation of the next period of time, the industry, mergers and acquisitions phenomenon, small to a project as large as the entire company as a whole to sell, there are possible. And housing prices could grasp expansion and conservative sheltered flexible rhythm is the key to "protect life".

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