At several meetings of the Real Estate Construction Chamber of Commerce, Yin Jun also saw Chen Qizong, who was incredible for a while ago.

This eldest son of Henglong Real Estate, who was forced to be regarded as a "genius" compared to Yin Jun, is now as frustrated as a quail, dejected and has a mess of hair and beard.

Hang Lung Real Estate's life is one of the hardest ones among all real estate developers.

Not only do they have a large number of developed properties, but the houses have not been sold, they have a more important and bigger trouble!

That is the target of the property built on 9 subway stations on the Hong Kong Island Line that Hang Lung Group and other real estate developers last year.

Now the Red Cotton Building in the Melitao section of the Central District is close to completion, and the Xiangshan Building in the second section of the Admiralty is being planned to be launched. It is time to compensate for the land price according to the agreement.

A total of 1.82 billion!

In this case, where can they get it?

Even if you can take it out, who dares to take it out?

Are you afraid of destroying your company directly for this project?

But if it is not taken out, it will be considered a breach of contract.

The loss of funds is an astronomical figure, and the entire subway station is covered with property, so it has nothing to do with them!

It’s no wonder Chen Qizong is so haggard as he is so tormented.

Not only Chen Qizong, but also their family are so decadent and haggard and at a loss.

Of course, it’s not just their family. Not many of the real estate businessmen Yin Jun saw had normal expressions.

Recently, bars, night parties and other places in Xiangjiang have lost their former excitement because they rarely go to negotiate business casually.

Only those who can maintain their own demeanor and demeanor are those super rich people who will develop in the future.

For example, Lee Zhaoji, although Henderson Land, which has just been listed, has been under heavy capital pressure recently and the company's stock price has dropped significantly, he is still slow and firm in his eyes.

However, under such a general environment, no matter how firm Li Zhaoji is alone and confident in the future, he cannot stop the collapse of Xiangjiang Real Estate.

Just when the real estate developers were at a loss, they encountered another heavy hammer.

The prices of second-hand houses in Xiangjiang suddenly plummeted!!

The average residential apartment in Tingyi has been reduced from 1,200 yuan per square foot in August to 900 yuan, and it is decorated!

The premium apartments on the Broadcasting Channel have been reduced to 1,000 in one go from the market price of 1,400 yuan per square foot in August!

The average apartment in Tsim Sha Tsui plummeted from 1,600 yuan per square foot in August to 1,100!

The luxury apartment in Bijia Mountain view has dropped from 2,000 yuan per square foot in August to 1,300!!

Even the villa on the top of the mountain was not supported. There were three high-end villas on Baijia Road, and the price per square foot was reduced from 5,000 yuan to 3,000 yuan!!!

Good guy!

The maximum reduction of first-hand houses in Land Land is only 25%, but the average reduction is only about 18%.

But in this way, second-hand houses are 30%-40%, and they are second-hand houses in Xiangjiang. The prices of all prices plummeted within one or two days, which is simply a blow to real estate developers!

why is that?

What is the situation?

After checking, we found out that the first ones to start the price reduction were those middle-class people who had completed the immigration procedures but had not yet left for a while.

Anyway, they will not live in Xiangjiang anymore, so how can they care about what will happen to Xiangjiang in the future?

Then, as the negotiations were broken, in order to avoid the war and for their own family, they of course had to worry about selling the house.

But in the current situation, how can the house be sold?

So, these people simply thought that I was leaving anyway. Even if I sold it a little cheaper, I would leave early. It would be better to make less than to get nothing, right?

This group of middle classes is the essence of Xiangjiang’s past twenty or thirty years.

Most of the houses they bought were actually very cheap, but thanks to the continuous development of Xiangjiang's economy in recent years, the houses have soared a lot.

Even if they sell at half the price, they can make a lot of money.

Not to mention that they actually have more than one house, most of them own two or three or even more in Xiangjiang. The middle class does not have several houses, can they be called a middle-class rich man?

At first, dozens of houses came out, and then hundreds...

Two or three days later, they released two or three thousand houses, which were good in terms of both the apartment type and the environment.

Everyone feels bad now.

Damn it!

So that's what everyone thinks?

It turns out that there are so many people who want to leave and so many houses to sell!

Of course they knew the harm of competing for price cuts, but things have reached this point and are already difficult to get off. No one can withdraw, so they can only hold on and pray that because the house price is too cheap, they can sell it as soon as possible.

The result is that even this middle class doesn't know, and even if they regret revoke the house sales commission, there is no way.

Because, a bigger crisis came soon afterwards.

There are many rich people in Xiangjiang, but there are also many ordinary investors.

They are like the middle class, and there are very few who have three or five houses, but they usually have two houses.

There are about 200,000 such families in Xiangjiang, which is a considerable number.

In the past, Xiangjiang's real estate was mostly supported by them to prosper.

However, these investors are all people who don’t have much money, and their entire wealth is on two houses.

In the past, I could also increase the value and maintain the value. I could enjoy the benefits of house price increase while renting it out and getting rent.

But now it’s not possible. The rich sell one after another. If this continues, they can take the money and leave. Where are we?

Did you just guard two houses that cannot be cashed in at all, and finally wait until they are confiscated?

This kind of thing has happened!

When they thought of such a terrifying thing, they felt very panicked.

If you say that they are ordinary people with only one house, they won’t be so panicked. After all, it’s impossible to sell the house directly and then rent the house with the money, right?

This is also too exaggerated!

However, the problem is that they still have a house on it!

Under such a severe situation, should I bet on two houses and will the most tragic thing happen? Or should I sell one and take some money to deal with the emergency?

Of course, many people will choose the second one without hesitation.

After selling one, I still have a house to live in, which is enough.

Even if the house was about to be collected later, I still had so much money in my hand, and I put it in the bank. They would never dare to confiscate the Chinese banks, right?

This is the final guarantee for a family!

right!

Just do it!

As a result, under the stimulation of these middle-class people, ordinary investors with two houses rushed to join the wave of selling houses.

Their costs are high and low.

But with the choice of life and final protection, no matter what, they want to sell a house and add some protection to themselves. Even if it seems to be a little loss now, it doesn't matter.

All right.

As a result, more than 30,000 houses appeared in the market in just one week, and this number is still increasing, shocking all the people in Xiangjiang!

However, because there are too many houses and are getting cheaper, even half-discounts are starting to appear, it makes those home buyers who are eager to try it dare not buy a house.

Why?

Who knows if the price of the house will plummet after I buy it?

If I buy it on the hillside or even the highest peak, wouldn’t it be a loss?

More importantly, you rich people are worried that your house will be confiscated and that your property will be gone. Don’t we poor people worry?

All the money I earned with great effort was used to buy a house, and then I was confiscated and ruined before I lived for a year or two. Can my family still survive?

It’s better to hold the money in my hand and wait and see it!

Anyway, houses are plummeting, not soaring. What am I afraid of? What am I worried about?

What should be worrying about is you rich people and those real estate developers!

have a look!

People from every class of Xiangjiang

Whether it is the rich, the middle class, ordinary investors, or the bottom of society, they each have their own thoughts and their own plans.

Moreover, this calculation is absolutely sharp and cannot be reconciled.

What are the direct consequences of this?
To be continued...