Recently, a milestone event has occurred in the real estate circle!
Jiangsu Nanjing unfinished building has made a historic breakthrough, not only can check out, but also can refund the down payment, fired the first shot in the country, and instantly detonated the real estate circle, so some netizens asked,
01
Astound! The first shot in the country was fired
Check out and get your down payment back!
Here's the thing, Nanjing's real estate - Pearl River Four Seasons Joy City, is an urban complex built by Pearl River with an investment of 10 billion yuan, integrating high-end residences, headquarters offices, MALL, star-rated hotels and fashion blocks, with a total volume of about 600,000 square meters.
The project was first opened in August 2021, and the contract delivery dates were June 2023 and June 2024, respectively, but one year later, there was news of a stoppage, and in November 2022, the project was completely suspended.
According to netizens, the reason given by the project at that time was that there was a problem with the general contractor, and after the general contractor was replaced, the construction was restarted, but there was no progress.
It is understood that the fundamental reason is that the general contractor Suzhong Construction Company was affected by the Evergrande incident, which led to the rupture of the internal capital chain, and also had a dispute with the developer Pearl River Investment, even if the general contractor was later replaced, the resumption of work failed, resulting in a long-term shutdown and inability to complete the delivery, which made the buyers miserable and even fell into despair.
After two years of complaints, through official coordination, things have taken a turn for the better in the near future. On the message board about check-out, Nanjing officials finally gave a positive reply on July 11.
The core content of the reply is: 1. It is a fact that Pearl River Four Seasons Joy City is unfinished, and it is a real hammer. 2. Enable the funds in the supervision account to start the check-out process 3. Only the check-out payment will not be refunded.
For the owner, the current loss is only the interest generated by the monthly payment, which is a blessing in misfortune.
It is understood that at present, most of the owners of the project have signed agreements with the developer, marking the official landing of this plan.
The implementation of this plan in Nanjing has set a model for thousands of unfinished buildings across the country.
02
There are more than 2,000 unfinished buildings in Xi'an
Is there hope?
According to the data of the E-House Research Institute, as of the end of June 2022, the national housing unfinished rate was 3.85%, with an area of 231 million square meters, and roughly calculated, there are at least 2.31 million unfinished buildings in the country, and there will only be more in the past two years, and Evergrande alone has as many as 1.6 million unfinished buildings in the country.
In addition, we can see from the regional distribution map of 271 loan suspension notices in 2022 that
Figure: Source network
According to incomplete statistics, the number of unfinished buildings in Xi'an is as high as more than 2,000, and there are more than 500 unfinished buildings in one district in the "hard-hit area", which are mainly concentrated in the South Third Ring Road, Chengxi, Fengcheng 4th Road, along Hancheng Road, Xixian New District and other suburban areas.
There are unfinished properties that have not been moved in for 10 years, some people have bought a wedding house and the children have not yet gotten their hands on the school, and some people are still renting a house while defending their rights, and they have to repay the mortgage every month, which is a portrayal of the real situation downstairs in Xi'an.
This time, Nanjing's initiative has brought new hope to the owners of more than 2,000 unfinished buildings in Xi'an, and praised the local government.
Nanjing's unfinished plan, will Xi'an follow? Multiple choices
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No
It depends on the project situation
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However, it should be noted that not all unfinished buildings are saved, we still have to look at it objectively, the prerequisite for the successful check-out of Nanjing unfinished buildings is that the money in the supervision account has not been misappropriated, which is also the most important point, and it is also the biggest essential difference from other unfinished buildings.
03
Can a whitelist save an unfinished building?
The latest progress is revealed!
At the beginning of the year, the state started on the unfinished building and announced the first batch of white lists, involving 2,962 projects, with a total financing demand of more than 550 billion, of which 84% of the projects belong to private real estate enterprises and mixed-ownership real estate enterprises to develop projects.
Looking at Xi'an, about 50 whitelist projects have been announced, which is still a big gap with the current number of unfinished buildings, and even if they are selected for the white list, they may not be saved, and the final decision lies with the financial institutions. Especially those projects where the pre-sale funds have been misappropriated, there is a high probability that they will continue to rot.
However, even if it is very difficult, Xi'an officials have been insisting on the task of "ensuring the delivery of buildings" and actively saving unfinished buildings.
In 2023, more than 86,000 units of the Xi'an "Guaranteed Delivery Building" project will be delivered, exceeding the annual task, and 91.9% of the total task will be completed.
In 2024, in terms of "guaranteed delivery of buildings", Xi'an's goal is to deliver 7,661 housing units in 14 projects on time, and the funds required for each project will come from special loan funds, market-oriented supporting financing, and self-raised funds from enterprises.
Image source: Screenshot of Xi'an Municipal People's Government document
At the same time, Xi'an has also made some achievements in the delivery of unfinished buildings.
For example, the famous unfinished building reported by Dr. Fang before - Xijiangyue, a well-known urban reform project in Xi'an, has been unfinished for 10 years, until after the palace real estate took over, it was born with a new "Ziyun Realm", and finally ushered in the delivery, which is also worthy of praise!
There is also the famous unfinished building Tianhao Shangyuan County of Aerospace New City, which was fully taken over by Shaanxi Sanjian and is responsible for the construction of the second phase of the project, which has resumed work.
For more information, please double-click the link below:
Shutdown for more than 10 years! Xi'an's well-known "unfinished building" announced delivery!
Foreign predators pick up land! The 10-year-old "unfinished building" next to Xi'an North Railway Station will be resurrected!
It took 6 years! Spend 2.3 billion! Xi'an's "biggest unfinished plate" was completely rescued?
In addition, the official has clearly stipulated that 109 real estate projects, the remaining problems have been resolved, and the conditions for transfer registration have been resolved, and everything is developing in a good direction
In fact, the most fundamental crux of the problem of unfinished buildings is the rupture of the capital chain, and the most serious is that the developer misappropriates the purchase funds collected from the pre-sale.
Take Xi'an as an example, the two time periods for unfinished buildings, such as the unfinished real estate represented by Xijiangyue around 2008, were the most tense moments for real estate developers in the country.
Another time period is after 2014, which is the second peak period of unfinished buildings in Xi'an in the past 10 years, because the policy of rectifying the chaos in the real estate market was introduced at that time, which cracked down on many urban reform projects, coupled with the special period of 3 years, many developers broke their funds.
However, no matter how the unfinished building is generated, the official is currently actively working to solve it.
However, buyers who are buying a house should pay attention to the fact that they must choose large developers and brand developers with financial strength when choosing real estate. Like what:
Longxiang Aocheng Yunyue, the project is built by the powerful real estate enterprise Longxiang Holding Group, with strong financial strength and 16 pieces of reserve land in the port area, with guaranteed quality and more peace of mind when buying a house. In the first half of this year, Longxiang entered the TOP10 of Xi'an's equity sales list from January to June 2024 with sales of 2.09 billion yuan, which can be said to be the "dark horse" of Olympic sports.
Longxiang Aocheng Yunyue is the third project independently developed by Longxiang Port District, and is one of the must-see projects in the core section of Olympic Sports.
The project is currently selling well, adding 13# building, focusing on 143 square meters, with an average price of 19,500 yuan/square meters.