Around 2020, Agile, Shanghai Forte and Longfor respectively won the land in the Kunming Twin Towers area, and successively launched three high-end projects, Yunhe Center, Forte Yunji and Jinling Tianxuan, which can be called the "top three" of the Twin Towers area (there are "last three giants" this year).
The positioning of the three projects is similar, the price is close, the first unit price is sold to 20,000+, and the location is almost next to each other, competition between each other is inevitable, but in the early stage of the opening of the three projects, the real estate market in Kunming is still very prosperous, the house price is still rising, the market purchasing power is strong, and there is no problem in accommodating three similar high-end projects in the same area at the same time, so the three real estate projects are selling well in the early stage of the opening.
One of the top three giants in the Twin Towers area - Forte Yunji
However, after 2022, Kunming's real estate market has gradually cooled down, and residential sales have continued to decline, from an average of more than 400,000 square meters per month in 2022 to more than 300,000 square meters per month in the first half of 2023, and further to more than 200,000 square meters in the second half of 2023.
Housing prices in Kunming have also dropped significantly, with the average price of new residential buildings in Kunming once approaching 16,000 yuan per square meter in 2021, while last year it fell to 13,700 yuan per square meter, a significant decline.
In this context, although the three high-end real estate projects in the Shuangta area have advantages in location, supporting facilities and products, they have also experienced the process of price reduction and de-escalation.
In terms of Forte Yunji, which was the earliest in the first three giants of the Twin Towers, the starting price of Forte Yunji was 21,000 yuan/square meter when it first opened in May 2020, but the hardcover house with floor heating was only sold for 17,000 yuan/square meter when it was liquidated last year.
Another example is Yunhe Center, which is one month later than Forte Yunji's opening time, and the lowest price at the first opening price is 20,000 yuan, and it is a rough large house, but now the price of the same product is only 16,000.
Yunhe Center is already an existing house, but there are still a small number of large units that have not yet been sold
Although the price is gradually decreasing, but after all, the two towers and three plates are positioned at the high-end, and the house type is generally relatively large, not as large as the demand for rigid projects, so the decentralization is still relatively slow, the earliest opening of Forte Yunji to the end of last year and the beginning of this year to achieve liquidation, Jin Juantian is basically sold out, only Yunhe Center still has a small number of houses, but there are only forty or fifty large units, and the vast majority of houses are still sold out.
Although Forte Yunji and Jin Brilliant Heavenly Order were sold out, if they were counted from the opening time, it would take at least 3 and a half years to dematerialize, and if Yunhe Center wanted to liquidate, I am afraid it would take at least 4 and a half years.
The first three giants in the Twin Towers area have finally completed their liquidation, or are close to liquidation, but the bloody battle of the last three has just begun.
The last three giants in the Twin Towers area are Greentown Fengqi Lanting, Jinjing Tianyao and Bangtai Jinghe, which has not yet been listed. Different from the first three giants, the listing time of the latter three giants is more staggered, among which Fengqi Lanting will be listed in August 2022, and the first listing is already a quasi-existing house; Jin Ting Tianyao went on sale in August last year; According to the practice of Bangtai Real Estate to develop Bangtai Zhenjing, the opening of the market will not be until the second half of this year at the earliest.
The real scene of Fengqi Lanting
Although there is a big difference in the listing time, the positions of the latter three giants are almost connected, and after Bangtai Jinghe is listed, their sales cycles will also overlap, and competition is inevitable, especially Bangtai Jinghe is likely to take the cost-effective route, which will pose a threat to Fengqi Lanting and Jinhui Tianyao.
When Fengqi Lanting was first listed, it was actually the target of the Jin Hui Tianxu, but now the Jin Tian Order is basically liquidated, and the opponent has been replaced by the Jin Tian Yao.
Renderings of the model room of the golden Tianyao
Jin Bright Tianyao's predecessor Jin Bright Tianxuan is the best-selling and most expensive project among the top three giants of the Twin Towers, with an opening price of more than 21,000 yuan and a maximum unit price of 30,000 yuan per square meter, but the sequel Jin Brilliant Tianyao is much more gentle in pricing, starting at 19,000 yuan. This is mainly because Fengqi Lanting, which opened a year earlier, had a lot of discounts last year, of which the smallest 143-square-meter unit is only 18,500 yuan per square meter, the lowest 175-square-meter and 198-square-meter units are only 20,000 yuan, and only the largest 238-square-meter unit maintains the original price. In this case, the Jin Brilliant Tianyao, which is a rival to Fengqi Lanting, can only be priced slightly higher.
Location map of the "First Big Three" and "Last Big Three" in the Twin Towers area
But what really poses a threat to the existing price system in the Twin Towers area will be Bangtai Jinghe, the last of the latter three to be listed. It can be seen from the pricing strategy of the newly opened Bangtai Zhenjing project of Bangtai Real Estate that Bangtai Real Estate, which is inferior to Greentown and Longhu in terms of popularity and comprehensive strength, is likely to continue the same marketing techniques in Bangtai Jinghe project, and lower the price while maintaining product strength, and Bangtai Jinghe is likely to be a rough house, and the house type is estimated to be smaller, so that the total price of a single set is much lower than that of Fengqi Lanting and Jinjing Tianyao, so as to win a competitive advantage. It's just that Bang Tai Jing and because he only took the land this year, the project period is much later than that of Fengqi Lanting and Jin Qing Tianxuan, and Bangtai Real Estate will probably open the project to a certain extent in order to reassure the buyers, and the first batch of houses in Fengqi Lanting will almost be delivered at that time.
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