Author: Zhang Huimin

  The transaction in the property market is sluggish, and Shenzhen's "zero down payment" is back in the arena.

  On August 11, the advertisement of "Zero Down Payment" of Jinyue City in Xincheng, Shenzhen, circulated in the circle of friends of real estate agents.

Just after the "zero down payment" was circulated for a long time, the houses in Xincheng Jinyuecheng were locked by the relevant departments and could not be sold normally.

  At a time when sales are sluggish, developers have tried their best to attract home buyers in order to recover funds. Since this year, there have been cases of down payment installments in Shenzhen, but it was denied by the developer the next day.

Although we know that there are risks in making a fuss about the down payment funds, there are still real estate projects that are at risk, and the developers are helpless behind knowing that they can't do it.

"Zero Down Payment" Half-Day Tour

  Xincheng Jinyuecheng's "zero down payment" promotional content shows that buyers only need to pay a deposit of 100,000 yuan, and then the bank designated by the developer lends the buyer 1 million yuan without interest. 100,000 yuan every six months for 4 years, and 50,000 yuan every six months in the last year. The activity is limited to 4 houses with 78-95 square meters. The activity period is tentatively scheduled from August 11 to August 14.

  The real estate sales of the real estate confirmed the authenticity of the above-mentioned "zero down payment" information to First Financial. He said that this activity is mainly aimed at just-needed home buyers who have a down payment of 30%.

Under normal circumstances, after the buyer confirms the purchase of a house, the down payment needs to be paid within 7 days, and the "zero down payment" will extend the time for the buyer to pay the down payment to 5 years, which is an inconvenience for the buyer. Small discount.

  Xincheng Jinyue City is located in Longgang Street, Longgang District, and was renovated from the Wulian Zhugushi area.

According to the official website of the Housing and Urban-rural Development Bureau, the registered name of the building is "Xincheng Jinyue Garden". On July 21, 2022, buildings 2, 3, and 4 obtained pre-sale certificates, and the total number of pre-sale units was 512, of which 490 were residential. The useful life is 70 years.

Xincheng Jinyuecheng's residential units are about 78-115 square meters in size, with an average price of 39,400 yuan per square meter, a unit price range of about 36,000-42,000 yuan per square meter, and a total price range of about 2,830,000-4,850,000 yuan per set.

  It is worth noting that at noon on the 11th, Yicai found that the 170 houses in Xincheng Jinyuecheng Building 1, and all the houses in Buildings 2, 3, and 4 have been shown as "branch locked".

"It was reported, it is temporarily locked." On the afternoon of the 11th, the real estate agent of Xincheng Jinyuecheng told

  "The house cannot be sold normally after it is locked." Yicai consulted the Longgang District Housing and Urban-rural Development Bureau as a house buyer. The relevant staff in charge of the pre-sale of the house said that the reason why the house was locked should be that the building was suspected of some The violations were rectified by the administrative agency.

Previously, the Longgang Housing and Urban-rural Development Bureau has received reports from citizens many times, saying that the building has financial irregularities of "zero down payment", "low down payment", "down payment financing loan" and "down payment advance". The clues were handed over to the financial department, and the specific results of the investigation and punishment are not yet clear.

  Zheng Boen of Guangdong Zhongmo Law Firm told Yicai that according to relevant regulations, the source of the down payment cannot be provided by real estate development companies or real estate intermediaries; it cannot be provided by Internet financial institutions or small loan companies; it cannot be provided by personal consumption loans, personal related Misappropriation of funds such as loans and business loans.

It is illegal for developers to provide down payment to homebuyers.

In the existing house purchase process, the relevant departments will verify the source of the down payment. Once found, the developer will be punished by the relevant administrative department, ranging from a fine to freezing the property in severe cases.

  In addition, Zheng Boen said that once a house buyer accepts a down payment loan from a developer to buy a house, the source of the down payment is illegal and will be investigated and dealt with by the relevant departments. In addition, it may also lead to the failure to perform the purchase contract. Once the contract is terminated, the purchaser will be liable for the breach of contract stipulated in the contract.

  Li Yujia, chief researcher of the Housing Policy Research Center of the Guangdong Provincial Urban Planning Institute, said that from the situation of the real estate, although the loan provided by the developer is interest-free, the borrowed funds are also leveraged, because in the next five years, buyers will not only To repay the monthly payment and the down payment, home buyers are under great pressure to repay, and there may be a supply cutoff, which poses risks to both home buyers and the financial system.

  Li Yujia also said that from the perspective of operation mode, the above-mentioned "zero down payment" should be an agreement signed by the developer with the bank, the bank will provide 1 million interest-free products, and the interest will be borne by the developer. The main purpose of the developer is to attract buyers. This also reflects the fact that the purchasing power and expectations of the current Shenzhen property market are very weak.

  According to data from the Leyoujia Research Center, in the first half of 2022, 16,126 new housing units were signed online in Shenzhen, a decrease of 40% from the previous month and year-on-year, and the transaction volume was 601 units less than in the first half of 2020; It fell 19% from the second half of 2021 and 65% year-on-year, and the transaction volume hit a 15-year low.

At the end of June 2022, the demolition cycle of first-hand housing in Shenzhen was 10.3 months, while in July 2021, this data was only 5.7 months. In one year, the demolition cycle nearly doubled.

In July, 3,317 units were signed on the Shenzhen New Housing Network, a month-on-month increase of 10%, and the rate of increase narrowed.

Developers are hungry for cash back

  Since the second half of last year, the real estate market has been down. Although it is a first-tier city in Shenzhen, its sales have also been greatly affected, and the shortage of funds caused by the weak sales side may be the main reason for developers to adopt "zero down payment".

  The above-mentioned real estate sales also revealed to Yicai that the reason why the real estate launched the "zero down payment" activity is mainly because the current developers are in urgent need of returning funds and urgently needing to ship.

  According to the official website of the Housing and Urban-rural Development Bureau, the developer of Xincheng Jinyue City is Shenzhen Shenrunchuan Industry Co., Ltd. (hereinafter referred to as "Runchuan Industry"). It was included in the list of abnormal business operations. The organ that made the decision was the Longgang Bureau of the Shenzhen Municipal Market and Quality Supervision and Administration Bureau.

  The publicity information of the real estate shows that Xincheng Jinyuecheng and Xincheng Group are related in product series.

Through equity penetration, Runchuan Industry is related to Xincheng Group and Xinda Assets, one of the four major AMCs.

Xincheng Group was established in 2017. The core team members Zhou Tong, Liu Bo and Zhang Yu have all served in the senior management of Vanke.

From the perspective of equity structure, Liu Bo is the controlling shareholder of Xincheng Group, accounting for 56.7% of the equity. In addition, Cinda Assets holds 37% of the equity of Xincheng Group.

  Xincheng Group's business formats include real estate development projects and asset operation projects. Previously, Xincheng Group participated in the development of real estate projects in Shenzhen, including the Jinshanfu project in Luohu District and the Jinhuafu project in Bantian Street, Longgang District.

The official website of Shenzhen Housing and Urban-rural Development Bureau shows that Jinshan Mansion obtained the pre-sale license in February and June 2021, and most of the houses have been sold; Jinhua Mansion obtained the pre-sale license in December 2021, and the total number of pre-sale units is 565 Sets, half a year later, Jinhuafu still has 225 houses whose status shows "off-plan houses for sale", and the sales performance is not good.

  In fact, Xincheng Jinyuecheng is not the first real estate this year to make a fuss about the down payment in order to promote sales. On the other hand, Qincheng Dayufu said through the official public account that it was a false propaganda by an intermediary.

  When the sales side of the property market is weak, it is a common marketing method to reduce the down payment in disguise. As early as the second half of last year, cities with lower energy levels such as Huizhou and Chenzhou have already experienced "zero down payment".

Coming to 2022, the situation of the sales side of the property market has not improved significantly, and the sales of the property market in the first-tier city Shenzhen is also not good. For properties with less obvious location advantages, it is even more difficult to sell.