High turnover housing prices usher in the dark time, real estate bosses are afraid to buy.

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 High turnover housing prices usher in the dark time, real estate bosses are afraid to buy.


Occasional engineering accidents and housing quality rights protection incidents, not only make housing enterprises into a management dilemma, but also make buyers face difficult choices.

Li Jun, chairman and general manager of Greentown Real Estate Construction Management Group Limited, said at the Boao Real Estate Forum in 2018 that he had been urging colleagues around him not to buy a house in the past two years because the quality of the house in the last two years was the worst, and the tide of rights protection would appear in these years.

According to public reports, in Chengdu, Wuhan, Nanjing and other cities in the first half of the year, there were a number of residential projects quality rights incidents involving dozens of large-scale developers such as Biguiyuan, Longhu.

High turnover brings engineering quality problems frequently.

The country garden, which just reached its peak in 2017, ushered in the darkest moment.

As the leader of the real estate industry, Biguiyuan is paying for the high turnover mode. Over the past three months, a number of incidents involving safety accidents and casualties have occurred in many of its projects.

According to public information, on June 24, an accident occurred in the Red Villa Forest of Biguiyuan Shanghai Fengxian District, causing one death and nine injuries; on July 12, the foundation pit of Qianchenfu in Biguiyuan Hangzhou collapsed, but no one was injured; on July 26, the wall and slab house of the Guanggong Construction Site of Biguiyuan City in Luan, Anhui Province collapsed, causing six deaths and many injuries. On the afternoon of August 1, a fire broke out on the roof of a building under construction in the second phase of the construction site of Zhongbang Shanghai City in the Biguiyuan Garden in Qidong, Jiangsu Province. Fortunately, no casualties were reported.

Biguiyuans high turnover mode is seen by many practitioners as the internal cause of frequent site accidents. The extreme pursuit of turnover speed, easy to make the normal construction period is compressed, quality, safety, environmental protection and other basic requirements are difficult to take into account.

In response to the spread of the 35-day building on the Internet, Vice President Chen Bin explained at a media conference that the 35-day construction period, refers to the project before the opening of the first floor of the demonstration area, part of the garden greening and model room exhibition area as soon as 35 days with open conditions, and said it is not mandatory implementation standards.

It is noteworthy that in recent years, the construction phase of the Biluiyuan project has also been repeatedly subject to administrative penalties, which involve incomplete certificates, potential safety hazards, environmental impact assessment failures, overtime construction, noise disturbance and other issues.

Talking about the engineering accident disturbance in Biguiyuan, Li Jun also said at the Boao Real Estate Forum that it is an enterprises choice to adopt a certain business model, not to say right or wrong, but in the realm of real estate development, there are some natural laws to abide by, do not break the law. No one will laugh at anyone. Next estimate that no one can escape.

He said that Chinas real estate development model has been some drawbacks, now almost reached a dead end. The situation is forcing developers to carry out fast turnover, cost control, standards reduction, housing quality is getting worse and worse, the next year may usher in Chinas real estate industry complaints and rights peak.

I personally do not want to talk about my own business. Next, everyone will have problems, including Vanke, Longhu and other may enter a very difficult period. Li Jun said.

The consequences of rush hour for housing companies are very serious.

The new China Jingwei client noted that the housing prices of housing quality problems were more than Biguiyuan.

Longhu Great Wall, once the net red property in Beijing and the main tourist real estate, has recently caused the owners to protect their rights because of the quality of the project. Interface news reports said that in the project, repair signs can be seen everywhere, more seriously damaged overlapping a group of regiment 1 and 2 buildings, the staircase broke off, part of the wall bars revealed. On the first floor of the owners house, some of the walls are moldy because of seepage. The floor tiles on the roads have been loosened, and some of the foundations of the building have subsided.

According to the Beijing Business Daily, many owners believe that the construction of Longhu Lake is due to the progress of the project. During the interview, Longhu real estate official also admitted the fact that the rush period, the person in charge said that last October to March this year, and this year, March to early April, the project entered the shutdown period, affecting the progress of the project, but considering July and August this year will usher in the peak summer housing owners, most of them will The use of this time to use or rent to earn income, so Longhu still on schedule.

Not only the quality of ordinary houses, but also the quality of high-end apartments can not be completely reassuring. The average selling price was 95,000 yuan per square metre in Kunlun District, located in the second ring of Southwest Beijing. However, the owner visited the building and found that the actual quality of the building was not as good as the original developer promised. Serious shrinkage, high enough, and the Loushu on the hall is also very different.

I have confirmed several times before I find that I have not gone wrong, said the Kunlun industry leader.

Quality problems are mostly related to funds, and capital budgets are not in place, which are prone to quality problems. Yan Yuejin, director of research at the think-tank center of Yiju Research Institute, said the quality problems of new houses that frequently occur in the market.

Whether it is large-scale housing enterprises, or small and medium-sized real estate companies, capital constraints, they have to face the problem together. In the first half of the year, the leading real estate enterprisesoperating cash flow turned negative or contracted sharply, and the debt ratio was not optimistic. Wind data show that the average debt ratio of 136 listed real estate companies reached 79.1% in the whole of 2017. The debt ratio of real estate companies has reached a peak in 13 years, the highest since 2005. In the 10 years since 2008, the overall debt ratio of the real estate industry has increased by nearly 20%.

Haitong Securities holds that the amount of debt to be repaid in 2018 is 161.3 billion yuan, 2.3 times that in 2017, and in the following period from 2019 to 2021 is 280.7 billion yuan, 399.8 billion yuan and 403.7 billion yuan, respectively, unprecedented in scale.

In order to hedge the pressure of capital, high turnover has become a magic weapon of some enterprises, but to speed up the flow of funds at the same time, it is also questioned that deliberately shorten the construction period, to the quality of housing hidden dangers. High turnover is an effective way to reduce operating costs and hedge industry policy risks, but it also brings some new problems, such as quality problems. Under the guidance of this kind of management guidance, the management criterion is not to ensure the quality of the project, but to ensure the speed. Lin Shaozhou, a former Vanke executive and founder of the Hot Earth Agency, also believes that if only from the perspective of financial management, high turnover model is reasonable, can improve the rate of return on capital. But this can not be at the cost of sacrificing the duration of the project, excessive praise of high turnover, excessive pursuit of scale and simple reproduction, the house into fast-moving goods, will bring credit crisis to the industry. Source: Zhong Xin Jingwei editor: Qian Yue Xiao _NBJ10675

In order to hedge the pressure of capital, high turnover has become a magic weapon of some enterprises, but to speed up the flow of funds at the same time, it is also questioned that deliberately shorten the construction period, to the quality of housing hidden dangers. High turnover is an effective way to reduce operating costs and hedge industry policy risks, but it also brings some new problems, such as quality problems. Under the guidance of this kind of management guidance, the management criterion is not to ensure the quality of the project, but to ensure the speed.

Lin Shaozhou, a former Vanke executive and founder of the Hot Earth Agency, also believes that if only from the perspective of financial management, high turnover model is reasonable, can improve the rate of return on capital. But this can not be at the cost of sacrificing the duration of the project, excessive praise of high turnover, excessive pursuit of scale and simple reproduction, the house into fast-moving goods, will bring credit crisis to the industry.