How “roll” is the property market in Hangzhou? Look at the facade of the owner’s crowdfunding!
Before we get the house, “appearance” takes care of it first. These two days, the action of prospective owners of “Heyu Lightyear” in Hangzhou on self financing to replace the facade of the community has caused a great shock in Hangzhou.
The news shows that the last phase of the “river language light year” has not been sold, and the early swing owners have successively filled out the questionnaire: as of the voting results in the afternoon of January 4, the motion of “upgrading real stone paint into aluminum plate” has received 442 affirmative votes and 2 negative votes.
The “appearance anxiety” of the new house has spread rapidly in the Hangzhou property market – “Heyu guangnian” has just put forward the idea of “plastic surgery”, and the owners of new buildings such as “Shanghe ad” next door are also ready to make crowdfunding.
The “medical beauty” of the facade has blown all the way to other popular plates in Hangzhou, such as “jiulongcang Tianjue” in Shenhua area, the “Binjiang Wangtao Yueming” in Shibei area, and the “Green City tide listening to the bright moon” in genbei area.
“It’s a bit outrageous! This is a reflection of the impetuous mood of some investors in Hangzhou real estate market and a reflection of quality and other problems derived from the price limit sales policy, but it’s very difficult to realize it.” People in the real estate industry said.
real stone paint for aluminum: what’s more beautiful?
According to Fang Zhangjie, a senior real estate professional in Hangzhou, the construction cost of the facade will be about four or five hundred yuan per square meter from real stone paint to dry hanging aluminum plate. In addition, the replacement of aluminum plate will also involve many problems, such as the wishes of the owner, negotiation with the developer, submission for approval, delivery period and so on.
Money and effort, such a big fight, what do the owners want?
Good looking is the most intuitive factor. From paint to real stone paint to dry hanging stone and then to aluminum plate, it corresponds to the evolution history of the facade of residential buildings. The lightness and Modernity of aluminum plate have indeed shaped many buildings in Hangzhou.
In this way, an invisible house price “contempt chain” is gradually formed in the “369” of the facade. The second-hand houses of “aluminum plate house” can afford the price, which has become the tacit “hidden rule” among Hangzhou owners.
At least, in the view of the prospective owners who took action above, this must be a cost-effective deal of “tens of thousands of yuan per household” for “more than 1.8 million value of the whole house”. “These two days, prospective owners in our group are talking about this. Most people express their willingness to raise funds. The grade of aluminum panel facade has been improved, which is positive for the pull of house prices.” In the first half of 2021, Ms. Wang, who shook a new site in Gongshu District, Hangzhou, said that prospective owners were ready to take the lead in moving the “beauty Enhancement Plan”.
Of course, some buyers believe that the core of determining the house price is the policy, location, school district and other factors. “It’s a joke that changing a few aluminum plates can drive the house price. If the crowdfunding facade is OK, will the crowdfunding floor height, crowdfunding decoration and crowdfunding park landscape be ok?”
lawyer: it’s easier to initiate than to travel
Freedom without prohibition by law. Based on emotion and reason, it seems that there is nothing wrong for prospective owners to raise funds to improve the appearance and living quality of the community.
But the reporter learned that it is not easy to make the real estate look beautiful. From initiating voting to raising funds, from the consent of developers to the approval of relevant departments, from early construction to subsequent maintenance, many hurdles and difficulties all test the determination of owners to collectively “defend house prices”.
Yang Xianlin, a lawyer from Zhejiang Zeda law firm who specializes in the field of construction engineering, told reporters: “this thing is by no means as simple as they (owners) take it for granted. There are too many links and uncertain factors involved.”
1. Does the owner agree or disagree?
Obtaining the consent of the owner is the first step for crowdfunding to replace the facade.
Yang Xianlin told reporters that the property management regulations and Zhejiang property management regulations have provisions on the voting procedures of the owners\’ meeting, but the replacement of the facade by crowdfunding is a new thing. Is it applicable to “more than half of the voting rights held by the participating owners” or “more than two-thirds of the voting rights held by all owners in the property management area”, There is no express provision. “I think we can properly refer to the cases of installing elevators, obtain the consent of most owners according to law, and pass the publicity, filing and administrative examination and approval procedures.”
“It is best for each community to formulate the articles of association of the owners\’ meeting, and then vote according to the provisions of the articles of association.” Yang Xianlin further said, “however, there are still some owners who resolutely resist or follow-up \’ticket skipping\’, and the real situation will be more complex.”
2. Do the developers agree or disagree?
Real estate development includes a series of processes such as planning permission, land acquisition, survey, design, construction, supervision, completion, acceptance and filing. Consensus with the developer is the only way for the smooth “hanging” of aluminum.
However, there are still many potential problems between owners and developers. For example, does it affect the design load of the building? In case of delivery delay, who is responsible? Who will be responsible if the aluminum plate production and construction process are not up to standard? If subsequent aluminum materials are damaged, who shall bear the warranty responsibility and maintenance cost?
Yang Xianlin pointed out, “This also involves the developer and the construction unit. Is it included in the general contract of the construction unit to increase the quantity of works, or is it professional engineering subcontracting to introduce other construction enterprises into the site? The temporary replacement of the facade requires the cooperation of all units. For example, the scaffold may have been removed and have to be erected again, which may lead to the final modification cost much higher than the owner’s estimate Period. “
3. Does the management agree?
“Most importantly, this is not a simple decision between the developer and the owner, because the facade reconstruction has involved urban planning, building safety and other issues, and needs to be re filed and approved by relevant planning departments.”
“It’s hard to say whether the supervision will release such self financing transformation and entrusting developers to implement it.” Yang Xianlin believes that this also constitutes the difficulty in the implementation of “shaping” of the facade.
4. Who will manage the fund management?
“In theory, raising funds belongs to the special maintenance funds for buildings and their ancillary facilities. Therefore, the establishment and use of funds need to comply with the collection, audit and disclosure procedures of the owners\’ assembly, as well as the special account for management. The compliance and effective supervision of the whole process are new problems.” Another industry lawyer told reporters, “the actual operation is not easy.”
motivation: the owner’s “market value management”
“Due to the new house price limit policy, the profits of developers are very meager or even loss, the allocation will not be high naturally, and the quality problems are gradually exposed. On the other hand, the house price in the core area of Hangzhou has increased greatly, and the new house has formed an obvious upside down with the surrounding second-hand houses, resulting in high expectations of new prospective owners.” An executive of a real estate enterprise told reporters that this practice of replacing the facade is an extreme reflection of investors\’ expectations of house prices, similar to the market value management of the stock market.
According to the reporter’s observation, recently, the trend of “self rolling” of property market owners in Hangzhou has become more and more intense. For example, an undelivered red disk owner raised to upgrade the overhead floor and garage entrance, and the aluminum plate “capacity expansion” of the facade of a house
(an undelivered red disk owner in Hangzhou raised and upgraded the overhead floor and garage entrance)
According to the investigation, as early as the beginning of 2021, the owner of a community in Jianggan District, Hangzhou planned to raise 20 million yuan to upgrade the facade because he was unwilling to “compare” the house price by the next community.
But so far, there has been no substantive progress.
Developers want profits and the main quality of the industry. The demands of the two are difficult to balance under the mode of high land price and limited price, resulting in many problems. For example, for the “binrong mansion” and other red discs with single digit winning rate, the prospective owner raised an objection because the statement of facade materials during marketing was inconsistent with the actual configuration, and then the developer promised to upgrade the aluminum plate. Recently, prospective owners of new buildings such as “Dayun bridge Xifu” and “Jiapin” have also raised objections to the material configuration of the facade.
Observing the real estate market in Hangzhou in the past two years, due to the upside down price of new houses and second-hand houses in some regions, there is a scene of “ten thousand people shaking” in some new buildings in Hangzhou. In 2021, Hangzhou increased the property market regulation policy twice, raised the purchase threshold and “drove away” a number of investors, but the lottery heat of the red market remains high. For example, the hot plate “hepinfu” of Wenhui plate in central Hangzhou was sold out three times in 2021, and the overall winning rate was only about 10%.
But things are changing. As the policy continues to increase, the real estate in non core areas of Hangzhou frequently fluctuates, and the high second-hand housing prices also show a trend of “falling both in quantity and price”. According to the statistics of 5I5J Holding Group Co.Ltd(000560) Market Research Institute, a total of 79200 second-hand houses were sold in Hangzhou (including Fuyang and excluding Lin\’an, the same below), which is the second lowest year since 2016.
Fang Zhangjie, a real estate professional, predicts that in 2022, the new house lottery and local auction policies in Hangzhou real estate market will continue to be optimized and adjusted, and make policy preferences in favor of self occupied and multi child families. However, the structural dislocation of supply and demand in the property market, the contradiction between self occupied affordability and listing price expectation will continue to be prominent.
(source: Shanghai Securities News)
