Jinmao's products have always been popular in the market. At present, Putuo Jinmao Province continues to be cold, is the market not working, or is there a problem with the project?
Zhongfang News reporter Miao Ye reported from Shanghai
"4 months of water storage, 4 and a half days of subscription, Putuo Jinmao House still has not triggered the point limit." As of the end of the subscription on October 13, a total of 117 groups of intended customers met the subscription conditions after review by relevant government departments, and no points were triggered.
This is the fourth "Jin Mao Mansion" in Shanghai, renamed from "Jingtai Mansion". Although claiming to be located in the first row of the central green space, China Jinmao combines Jinmao's "FREE+ technology system" and ultra-low energy building and other technical systems to launch government products. However, unlike Shanghai's Daning, Hongkou and Western Suburbs three Jinmao Provinces that are difficult to find, the Putuo Jinmao Fu project continues to be cold.
During the November holiday, the project launched "Surprise Specials for Selected Properties", and planned a number of owner-centered sports, PLABIT platrat art exhibitions, and souvenirs such as customized flowers and air fryers to attract visits and transactions.
"The average price of the third phase is 83,000 yuan / square meter, and the National Day Golden Week project site receives an average of 80~100 groups of house visitors per day, an increase of nearly 2 times over usual, and there is no rest for a day during the entire holiday." The salesman of Putuo Jinmao Province said.
But the volume is only more than 10 sets.
As the fist product of China Jinmao, "Jinmao Fu" has always been a hot seller in various markets, and the same is true in Shanghai, why is Putuo Jinmao Fu different? What is the reason for "not selling"?
In response to related questions, the reporter of China Real Estate News contacted the relevant people of Shanghai Jinmao and Putuo Jinmao Fu projects respectively, but did not get any response. One of them explicitly told reporters: "We don't need this interview. ”
Born at an opportune time or born deficient?
Putuo Jinmao Mansion, formerly known as "Jingtai Fu", is the first settlement of Jinmao in Shanghai Taopu Smart City.
Jingtaifu is located in Lane 800, Jingtai Road, Putuo District, Shanghai, which belongs to the Taopu plate and the middle and outer ring roads of Shanghai. The developer of the project is Shanghai Taomao Real Estate Co., Ltd., and the enterprise investigation shows that China Jinmao indirectly holds 100% of the shares.
As the first sale of Taopu homestead in recent years, the 026-01 plot of Taopu Science and Technology Smart City (W06-1401 unit) in Putuo District, where the project is located, was won by China Jinmao for 3.529 billion yuan in July 2022, with a premium rate of 8.91%, the transaction price of 47,322 yuan / square meter, and the linkage price of land and real estate of 83,000 yuan / square meter.
On March 21 this year, China Jinmao Shanghai Company released the project name "Jingtaifu", which was hoping to realize a beautiful life scene of "10,000 views entering the park, Antai self-satisfaction" here.
As a "fu" product of the same origin as Jinmao Fu, Jingtai Fu was cold at the first opening in April. A total of 211 houses of 107 square meters ~ 203 square meters were launched for the first time, with an average price of 82,333 yuan / square meter. On April 18, the subscription of Jingtaifu ended, because the points were not triggered, and the number of subscribed customers did not reach the 2.0 shortlisting ratio (422 groups) set by the management department, and the project opened early on April 27.
According to the reporter, due to poor sales, the project urgently started intermediaries to bring customers. An intermediary in charge of project distribution told reporters that the "channel fee" issued by Jinmao Shanghai Company is about 100,000 yuan per set.
On the opening day, the sales staff of the Jingtaifu project site announced that about 70% (about 148 sets) of the project were sold in the first place.
On June 21, Jingtaifu opened the second subscription, adding 241 sets of 107 square meters ~ 203 square meters of housing, with an average price of 83,341 yuan / square meter, a total of 66 groups of customers participated in the lottery, with a lottery rate of about 27.4%.
The area of this project was the same as that of the first opening, but the average price increased by 1,008 yuan / square meter compared with the first opening, and the popularity declined.
Online real estate shows that as of June 25, 2023, the total number of residential units in Jingtaifu was 452, and 106 residential units were sold, with an online signature rate of about 23.5%, and the speed of dematerialization was average.
Jinmao's products have always been popular in the market. At present, the Jingtaifu project subscription continues to be cold, is the market not working, or is there a problem with the project?
In the eyes of industry insiders, the poor sales of the project are mainly due to the deviation of Jinmao Shanghai Company's positioning of the project.
A person in charge of customer research in East China of a brand real estate enterprise told reporters that before the opening of the Jingtaifu project in April this year, Jinmao Shanghai Company's trading ideas for the project were still stuck in the stage of good market conditions in the past. Therefore, the team did not position it as a high-end "Jin Maofu" series of products at the beginning, but built it as a general product.
"If Jin Mao Jingtaifu opens before March, it may be 'daylight', but in the current market background, it is unlikely." The person said.
In addition, the Jingtaifu project also has a strong competitor project - Baohua Ziwei Garden.
On the same day that China Jinmao won the aforementioned land, Baohua Group bid for plot 037-01 in Taopu Science and Technology Smart City (Unit W06-1401) in Putuo District for 1.172 billion yuan, with a premium rate of 1.03% and a floor price of 39,436 yuan per square meter.
BAUER Group subsequently named the site "BAUER Ziwei Garden". At the opening of the first phase of Baohua Ziwei Garden, 347 units were subscribed by 422 groups, and the 246 suites opened in the second phase were subscribed by 198 groups.
"The demonstration area, clubhouse, swimming pool and model house of Baohua Ziwei Garden can be called the benchmark in the industry. In contrast, it also made the Jingtaifu project lose the first hand. An insider of a real estate company in Shanghai revealed that in order to launch the return shot, Jinmao Shanghai Company needs to make unique product strength, and cannot just rely on eating "old capital".
The technological content of the name change has been questioned
On September 4, Jinmao Jingtaifu was officially renamed Putuo Jinmao Mansion.
According to the announcement of China Jinmao East China Company, Jinmao Shanghai Jingjingtaifu project fully introduces the "FREE+ technology system (separate household technology system)" to realize the application of Jinmao technology housing in different scenarios. With the introduction of the scientific and technological system, the name of the project promotion project was upgraded from "Jingtaifu" to "Putuo Jinmao Province".
According to the project sales staff, the system can be intelligently controlled by separate rooms, replacing central air conditioning and floor heating, and using indoor capillary and displacement fresh air to achieve comfortable temperature and humidity in the room for many years, and achieve better air filtration.
So, has the sales situation improved after transforming into Putuo Jinmao Province?
An intermediary in charge of the distribution of the Putuo Jinmao project told reporters that from the current point of view, the sales situation has improved slightly. The "channel fee" has also been reduced from an average of 100,000 yuan per set to 50,000 yuan.
However, the aforementioned market participant questioned: "If we can obtain sufficient profit demand on the Taopu Jinmao project while retaining more unique technology services of Jinmao, then the Taopu Jinmao project will definitely become a 'net red plate'." The problem is that the constant temperature and humidity constant oxygen system needs to be laid with a capillary pipe network, and it is necessary to pump about 150 meters underground for water circulation. ”
This is also the question of the buyer, the house is almost built, how do these devices work?
In this regard, the answer given by the sales staff of Putuo Jinmao Province is: the scientific and technological equipment of the project is placed on the outdoor equipment platform, similar to the air conditioning external unit, will not damage the interior of the house, the use of air source heat pump, the use of air heat exchange, compared with the traditional ground source heat pump with soil as the medium, air source heat pump is more environmentally friendly and more energy-saving.
"The trader can only make certain upgrades on the original basis, but it is impossible to make major changes on the basis of the original design plan, and it is too late to develop new products." The person in charge of customer research in East China of the aforementioned real estate enterprise believes that this improvement and change effect is not large.
As we all know, Jinmao's products can create an example in different periods and different sectors. Daning Jinmao Mansion, Hongkou Jinmao Mansion, and Western Suburb Jinmao Mansion have long been sold out, and the second-hand houses currently have a certain premium rate in the sector. So, it remains to be seen whether the decline of Putuo Jinmao House can be reversed in the name of science and technology?
The project "hard wounds" to be solved
Under the new policy of "recognizing housing but not recognizing loans", the first "November Golden Week" ushered in by the Shanghai property market has become a key node for major developers to seize the heat.
According to the monitoring of Zhuge Data Research Center, during the Mid-Autumn Festival and November holidays in 2023, the average daily transaction of new commercial residential buildings in Shanghai was 103 sets, an increase of 284.6% over 2022 and a slight decrease of 0.8% from 2021.
What about the legendary "crowded" Putuo Jinmao Mansion?
Zhang Ming visited the Putuo Jinmao Fu project during the National Day, he told reporters that from the model room, although the quality of Jinmao Fu is okay, but the same price, he will choose the model room and the demonstration area better Baohua Ziwei Garden, or choose Jiading Nanxiang area, as long as 2 subway stops to Nanxiang Center, where a second-hand house is upside down a little higher, the surrounding commercial facilities are more mature.
According to the reporter's visit, Putuo Jinmao House is located in the Taopu plate has fewer new houses, the latest is the Central Famous Mansion developed in 2011, the current average transaction price of second-hand houses is 85,000 yuan / square meter, which is the price "ceiling" of the Taopu plate.
However, because the price of new houses has risen, the liquidity of second-hand houses is not high overall, and there are only sporadic transactions. In addition, the entire Taopu plate is filled with a large number of "old public housing" and relocated houses, resulting in the overall price of second-hand houses in the sector is not high.
"Putuo Jinmao Province has no bright spots on the whole, in addition to claiming high-tech housing, the apartment type is also average, the housing acquisition rate is generally not high, and there is a certain gap compared with the north-south transparent competition on the opposite side." Yu Yang also visited the projects for sale in the Taopu plate during the November holiday, "Putuo Jinmaofu is about 1.3 kilometers away from Line 11 Qilian Mountain Road Station and 1.5 kilometers away from Line 15 Gulang Road Station, which is beyond walking distance, which is not very convenient for commuting to work." ”
In fact, Putuo Jinmao Province also has an environmental factor that cannot be underestimated. This is originally a chemical park, the original plot of the project is a paint factory (now relocated), the north of the project has the Jiangqiao waste incineration plant (Shanghai Huancheng renewable energy), the straight-line distance is only 2.1 kilometers, once the south wind or low pressure weather, 2-3 kilometers around the incineration plant is bound to smell. Of course, with the blessing of Jinmao Fu Science and Technology System Residence, these odors can be filtered through the fresh air system. To the west of Taopu Central Park, next to Putuo Jinmao House, there is also a chemical plant.
"The cold sales of Putuo Jinmao Province are not because of how bad the project itself is, but more because of the regional plate and the location of the plot." The aforementioned insider of a Shanghai real estate enterprise believes that it has a lot to do with the "hard injury" of the Putuo Taopu plate where the project is located, leaving aside the chemical park and waste incineration plant, Taopu Smart City has just started, large-scale high-level industries have not yet been introduced, and it will take time for the planning to land.
The person in charge of the aforementioned customer research said that customers will only choose the best sector within a limited budget, and if the projects in this sector cannot be bought, they will retreat to choose an alternative sector. At this stage, there are not many good ways for developers, only "roll products".
"Your basement is all stone, and the decoration is the standard of 5,000 yuan / square meter, then I will add the decoration to 8,000 yuan / square meter." However, as costs continue to increase, the profit margins of the project naturally narrow. The person said that when the two projects are exactly the same in the surrounding facilities, school districts and other facilities, the project will only have to put together products.
According to market estimates, if the more than 700 houses in the Taopu plate are not sold for a day, Putuo Jinmao House will always "stand guard". Obviously, the time has come to test the product power of Putuo Jinmao Province.
(At the request of interviewees, Zhang Ming and Yu Yang are pseudonyms in the article)