[Epoch Times November 03, 2021](The Epoch Times reporter Xiong Bin interviewed and reported) There has been a wave of price cuts in Wuhan real estate, which has triggered a panic buying of “Optics Valley”, one of the “Optics Valley”, the eastern foot of the Zhonghai Optics Valley, in the middle of last month. The price of the new house was reduced to 11,000 yuan (RMB, the same below) per square meter, and the price reduction was as high as 20%-30%. A house was cheaper by about 300,000 yuan. This triggered a collective protection of the rights of the owners of the previous house purchase. 8 people were detained and the developer was interviewed. .
Zhonghai Optics Valley Donglu previously launched a hardcover house with a price of 15,000 per square meter, which is more favorable than surrounding real estate. It has triggered a wave of buying and sales performance ranks among the top three in Wuhan’s new real estate. On the night of October 15th, after the price of some new houses was greatly reduced to 11,000, about 3,000 home buyers were dissatisfied in the early stage, and they complained on various online platforms or raised banners to protest at the sales office.
At around 17:00 on October 22nd, a large number of owners of Zhonghai Optics Valley Donglu Community gathered around the entrance of Wuhan Municipal Government, shouting slogans and spreading slogans, “The central enterprise Zhonghai is too deceptive”, “the central enterprise is dignified, and the face is not”, and the unscrupulous Zhonghai Slogans such as “Black Heart, Vicious Competition, Disruption of the Market” and other slogans defended their rights. Special police were used to maintain stability at the scene.
8 people were detained for rights protection
According to the administrative penalty decision issued by the Hubei Public Security Law Enforcement Platform, eight of the people who went to defend their rights, all of whom were around 30 years old, were administratively detained by the police. On October 27, one was detained for ten days, and on the 23rd, seven were detained. 5 days. On the same day, the management committee of the development zone to which the real estate belongs also responded, saying: The price reduction problem reported by the complainant did not violate the relevant provisions of the “Commercial Housing Sales Management Measures”.
Mr. Hu, a housing agent in Wuhan, told reporters on November 2 that: “China Shipping has launched the last few buildings. Some of them are special-priced houses. At that time, I saw many people defending their rights outside the sales office, but they were actually giving them a disguised form. After a wave of advertisements, many customers went in through the side door and back door, and the sales on the spot were extremely popular.”
Mr. Hu said, “The developers have cut prices. Those customers who bought before were dissatisfied and caused mass incidents. In the end, the government took action to suppress it. The developers were interviewed. The government also instituted a drop limit order. 15% of the filing price, to prevent developers from cutting prices too much.”
Some owners left a message on the leader’s message board, emphasizing that they had asked for a discount when buying a house. “I was consistently rejected by Optics Valley Donglu Real Estate and said that even if other properties are discounted, the central enterprise Zhonghai will not. Let us buy a house as soon as possible and give up our illusions.” But Less than a few months after signing the contract, the price of a house in China Shipping was reduced by 300,000 yuan.
A self-proclaimed “victim of Zhonghai Optics Valley Donglu” stated on Weibo, “On the afternoon of October 16th, I saw the news of the discount of the Zhonghai Optics Valley Donglu project in the circle of friends. From shock to collapse, I never expected that it would The price has been cut so much.” According to preliminary estimates, his house cost 270,000 more than the people who bought it now. “Many of our pitted groups are just in need. They are the first house in life. They emptied six pockets of the family, plus borrowing money to get the down payment. It is extremely chilling!”
Wuhan’s October housing market is deserted and central enterprises take the lead in cutting prices?
According to official data, the transaction volume of new homes in Wuhan in October hit a five-year low, both month-on-month and year-on-year. In October, the transaction volume of new commercial housing in Wuhan was 15,021, which was 16.38% lower than that in September 2021 and 17,963 units were sold in October 2020. 24991 sets decreased by 39.89%.
The reporter called the sales office of Zhonghai Optics Valley Donglu on November 2. The salesperson, Mr. Qu, said, “The 11th eleventh promotion has ended. This is a means of promotion. It is not the long-term price. Now it is the normal price. The average price is the same. Fifty-five thousand five thousand, this is the third phase of the off-plan housing, and there are still channel discounts, but there is no such low discount. You can get a 96% discount or a 97% discount.”
However, Mr. Xiong, another salesperson at the eastern foot of Optics Valley, said that the promotion is still ongoing. The 11,000 houses per square meter are almost sold out, and there are about 12,000 houses per square meter.
Mr. Xiong said, “Now it’s 11,000. The developer may also be a financial problem. This building belongs to a large-scale community. Last week, we added the last building. It’s about 12,000 listings.”
Mr. Xiong said that this time the price cut has already had many owners defending their rights, the developers have sold so much, and the funds have gone back, so there are fewer opportunities for price cuts in the future.
According to public information, China Overseas Group Corporation, referred to as “China Overseas Group”, is a 100 billion listed real estate company directly under the State-owned Assets Supervision and Administration Commission of the State-owned Assets Supervision and Administration Commission of China State-owned Assets Supervision and Administration. The business focus shifted to Mainland China.
Editor in charge: Fang Ming
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