Anyang Private Lending Market Collapse Aftermath

Three years before Handan, the private lending market in Anyang collapsed. Prices jumped more than 80% from 2009 to 2010, pulling in many investors and developers with no experience. The result is widespread losses, collapse in the private lending market, very small price gains in the ensuing three years and many abandoned buildings, some of which have become home to birds, cats and dogs.

安阳民间借贷崩盘 遍地烂尾楼成猫狗栖身地

Despite the collapse of private lending from Anyang for three years, this has "in northern industrial city," said the city has yet to recover, jagged residential flats everywhere, gray building body and empty windows to become the city's most Common landscape.

And in recent months, loan defaults tide Handan similar folk now, three years ago, Anyang private lending also happen "avalanche." In Anyang announced 41 companies suspected of illegal fund-raising list of high interest rates, real estate companies accounted for more than half. According to industry estimates, development funding Anyang local housing prices more than Liu Cheng-dependent private lending market.

"Anyang private lending after the collapse of the local real estate industry has been hit the most obvious part of the project failed to materialize only appearance, and more importantly, local developers and the industry have lost confidence, which leads to the property market in recent years has been traded Anyang fatigue, weakness filling. "familiar with a large housing prices nationwide leader of the local property market, told reporters.

Residential flats into winter bird habitat

Xiangzhou name Anyang County Area A is the aftermath of the collapse of private lending famous unfinished projects.

November 12, "China Times" reporter in the real estate field visits to see the district metal enclosure, more than half of the storied building facade renovation has been completed, the rest have not renovated the facade, there are several buildings not yet capped . Due to time have long abandoned, some rooms even as a winter bird habitat, from time to time the building came bursts of birdsong.

"It was good that this project, we are ready to buy their own homes, and now has become a shelter cats and dogs," one of the owners came to visit, "said counting from the end of 2011, this is the first project Three lockout, and it has been shut down from the beginning of the year until now. "

Public information display, xiangzhou name was originally Zhenyuan County Area A Group project, covering 106 acres, started construction in 2008, a total of 31 residential buildings, 1204 houses, even now, it is the local volume Anyang larger real estate.

The complaint provided by the project owner, the name of the county Xiangzhou Zone A on sale in 2009, has sold 1081 units, of which the full amount sold 817 units, accounting for 89.78%. According to the purchase contract, the project should be submitted at the end of June 2012, but the influence of Zhenyuan Group funding strand breaks, so far not been submitted.

"The reason given by the developers of the project work stoppage is not enough for projects, but presumably, project development should not be lack of funds, because the only buyers will pay a total of about 300 million yuan." One owner xiangzhou names of reporters County Area A Fig.

In fact, 2009 has not been achieved pre-sale permit xiangzhou name County A district began charging booking section to the book in the form of nearly 100 million yuan; in October 2011, the project also held Qizhe sales activities, and require buyers at 10 before the end of full payment in cash. According to the owners statistics, the promotions, the company has received about 200 million yuan of funds.

"Zhenyuan Group case of this project is very typical in Anyang, Anyang was a lot of developers involved in private lending has similar operations that get a lot of money through the sale items, and then use these funds for lending and financing, and ultimately powerless maneuvers, into a funding strand breaks, the plight of the project unfinished. "Anyang local real estate insiders Liu Li (pseudonym) told reporters.

In addition to the name of the county Xiangzhou, when involved in a number of cases of private lending Anyang housing prices are caught in its real estate can not "rehabilitation" dilemma.

Located in Anyang People's Avenue and east of Metropolis · New Town Road intersection (information, buy, forum) is currently in stock status, a salesperson said that "a number of issues within the project." Locals told reporters, Metropolis · Newtown problem is not properly resolved construction funds. In addition, the project is expected to go to two listings submitted before 2017, one of the original agreement in 2012 submitted to, but so far could not be admitted.

Also involved in illegal fund-raising beyond the group's "Akinori Lou Venice Impression" commercial real estate projects, is also in a suspended state. Anyang government has said the project will be built in the second half of 2014 have opened, but so far the project has not completed.

In addition, Anyang county-level city under the jurisdiction of the state forest private lending default crisis also bruised a few years ago, there has been ranking the state forest of osmanthus, Spring city and Grand Dragon Court and other unfinished plate.

Sequelae of continuous fermentation

Anyang real estate involvement of private lending is quite in depth. By the end of 2011, published in Anyang City, 41 suspected illegal high-interest financing company list, there are 23 local businesses, including local real estate companies (or the real estate business) 12, accounting for more than half.

"The end of 2010 to early 2011, around the property market boomed, Anyang many companies see the real estate industry profitable, they have diverted the market, but it itself does not have the ability and experience in real estate development." Liu Li told reporters.

Publicly available data show that in October 2010, Anyang average residential sales price for 3832 yuan / square meter, compared with the same period in 2009, up 1,743 yuan / square meter, or up to 83.4%.

"In the interests of the drive, which itself has no financial strength of the real estate company in order to make up the hands of the project turnaround maneuvers around the capital, due to its poor qualifications, difficult financing from banks, private lending thus become the only remaining financing. As we understand it develop sources of funding in excess of Anyang Liu Cheng-dependent local real estate private lending market. This also provides a quick private lending Anyang breeding ground. "Liu Li further explained.

Anyang private lending after the collapse of the largest buyers who become victims.

In Zhenyuan Group, for example, according to the Long An area the government had to show creditors network reply, Zhenyuan Group's total funding of about 600 million yuan, covering a number of about 1 million people, mainly through its gas companies and real estate companies using gas sale ticket pre-sale housing fund and other ways of financing.

Zhenyuan Group of illegal fund-raising after the incident, the company attempts by debt, debt turn coal, debt transfer room, buy merchandise, etc. reimburse creditors.

"Turn through debt rooms, Xiangzhou County Area A name is not for sale listings, about 50 sets are used to offset debt, housing debt after running out of the project. No follow-listing means that the follow-up without any income, how will the company willing to take the disc to return to work? "In the name of the county Xiangzhou Zone A one owner opinion, this project can successfully submitted hopes have been very slim.

By the end of 2013, Zhenyuan Group and Henan nine-run investment company signed a cooperation agreement to its home buyers and real estate company Century Plaza Century Zhenyuan total of seven of its undeveloped land package for cooperation and development, and change the two companies for corporate Investors Henan nine-run.

Many owners told reporters that this process does not receive xiangzhou Henan Jiurun County Area A project name, the name of the county led to the current Xiangzhou Zone A development company has become a no, no capital, no construction supervision of three no items.

After the transfer, the original developer of Zhenyuan County home xiangzhou name Area A "quick change", the original company has been deserted, no longer responsible for the project, and its parent company, Zhenyuan Group is not responsible for, the project Hosted by Long An District Government.

To date, the name of the county Xiangzhou Area A is still struggling, the owners of independent mobilization of more than 1700 million project resumed funding runs out in 2013, Long An area of ​​more than 800 million can borrow used up, after the first Long An area plan The applications provident fund loans as a source of funds to return to work late, but because of public property and the delay did not apply for permits issued.

Property market malaise

In addition to waiting for the resumption of work outside of residential flats, Anyang private lending collapse three years ago, has left a huge chain of debt "black hole."

"Anyang year private lending is 'man pulling people, high return' of pyramid-style comic lending, the project company has multiple eating interest differential below middlemen, namely low interest rates to borrow money to find relatives and acquaintances, but also high-interest loans to the project company and loan companies, so a lot of debt intricate, simply do not know. "Anyang A local source told reporters.

According to media reports, when Anyang private financing is public participation, including all types of people traders, civil servants, retirees, etc., were less a few million, more than those less than one million. The source told reporters after the 2011 collapse of private lending in Anyang, Anyang economy is almost paralyzed. That time official statistics figures are 47 billion yuan, but the locals dare not think that many civil servants involved in statistics, civil estimate the actual amount should reach 60 billion yuan.

"Affecting the real estate industry by the largest plurality of housing prices collapse led to project stopped, buyers have to purchase not only Shou Fang, and then four percent of Anyang part of real estate prices are not popular." Liu Li told reporters.

Anyang City building housing the Bureau investigator Liuheng Lei said, "A few years ago because of illegal fund-raising, funding strand breaks and left unfinished plate there are still many did not return to work, the current government is actively financing, investment, seek an early solution to the problem. "

"Now people hesitant to enter the property market in Anyang," one local told reporters that by this psychological impact, Anyang property market in recent years into a state of malaise.

SouFun data show that from January to October this year, the average price of commercial housing Anyang 4223 yuan / square meter, compared to the same period the average price in 2010, or very little.

It is noteworthy that since August this year, Handan property market broke a similar private lending wave of defaults. Golden Century dozens of real estate housing prices failed to materialize due to funding strand breaks caused by the project, unable to pay financing payments to creditors. Insiders worry, if handled improperly, Handan or step Anyang footsteps.

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