1.64 percent off auction! Why did the sea view room fall to the price of cabbage?
2022-08-08: [Article Link]
“The value of the Seaview House is driven by its investment attributes, and today its investment value is declining and its consumption potential continues to fall short, leading to weak market performance.”
It was supposed to be a hot season, but this year's epidemic and industry realities have made the market a little bit more chilly.
Since late June, daily economic journalists have been visiting Qingdao and Huezhou in search of a “unsatisfied sea house” in the summer. Those investors who once wished to do so had to bow their heads for years and “do not sell, do not know how much they will fall”; those who wish to grow old in the seaview house continue to make self-proclaiming accounts of their business experience, while “the present house, can live in” has become a generic sales term. The Seaview House, as the most relevant word to industry in summer, is full of ritualism every year.
The coastline is in absolute ranking throughout the country in Huezhou, which is known for its “South China Sea” coast, with 162 natural sea islands, 281.4 km of coastline and 4520 km2 of maritime area, according to data from the Natural Resources Bureau of Huezhou City. High-quality coastal resources have made the coast of Huixiang a prey for many real estate operators, where a large number of developers, such as Beguien Garden, Huayun, Huanko, Finance Street and Fulfill, have come together for more than 10 years. As a result, 2,000 kilometres south, thousands of floors were looking down at the sea, and a giant city spread along a steep coastline, swelling and quiet.
From the drone perspective, a large community of 100,000 people appeared to be isolated and overcrowded, a super-high-rise building came out of the fabric, and the greyness of blue and steel cement facing the sea made a huge contrast.
Qingdao, our famous coastal city, from Ink in the north to Guonan in the south, has a wide range of coastal floors, some just set up frameworks and others have been under development for many years. Unlike some cities known for sea viewing houses, many coastal floors in Qingjia are not sold on seascapes and therefore do not form an independent market segment, and prices fluctuate as the overall market rises or falls. As a microcosm of the most representative seascapes that are rare on the first line of cities, the skyscraper project has also stomped on the history of our sea-viewing house development, from heat to oblivion.
“The high seas of Shenzhen Salt Field, Grand Mesha's beachhouses are far away, and a lot of rich people have been piled up here a decade or two ago, and are also known by many investors as the gold coastline in eastern Shenzhen, but the subsequent rise of the luxury housing areas such as the Honolulu Lake and the Bay of Shenzhen has led to a relatively small number of buyers. From the records of past auctions in the sky, 60 auctions have been recorded in the last five years, but the overall number of transactions appears to be low, and most of the housing sources end with “the scene has been filmed and no bids made!”.
After 15 years since the opening of Zone 1 in 2007, the housing stock in Shenzhen has risen rapidly, but the prices of the Shenzhen houses have not changed significantly in relative terms. The house was first set up in September 2018, six times in a row, and the start-up price fell from the first 823 million Yuan to the current 558 million Yuan, a drop of 2.65 million Yuan.
At the end of June, more than 200 square metres of the land of the Rhine Estate, a part of the Shenzhen Mansion, District 3, was filmed in Arifa, at a price of 558,000 Yuan, but was eventually filmed without a competitive bid. The seaview house is surrounded by people outside who want to go in, people inside who want to come out.
Stab the video and show you the sea.
Away from Qingdao's largest sea-viewing community.
This is Victoria Bay, Qingdao's largest sea-viewing community, which has been under development for eight years now, more than 10 years, and is also home to the local population of Qingdao's “the cheapest sea-view house”.
Little Chen's house shopping story, starting here.
In the past few years, Chen's family's fate has been closely linked to Victoria Bay when he bought his father's old man's home and invested in his own house.
Qingdao's largest seaviewing community aerial film: NBD Reporter Wang Jia Fei
Like all the less mature communities in Victoria Bay, there are mobile stands to sell vegetables and fruits, which Mr. Chen is pleased with, “the prices are low and the fruits and vegetables are cheaper than those in the city of Aoshima”.
At the end of June, the sun is already hot, but it still feels comfortable under the blowing of the sea wind. Every afternoon, Master Chen walks around and buys vegetables.
Mr. Chen was not particularly aware of his home acquisition experience, when he wanted to buy a smaller house by the sea, many of which belonged to his son, Chen Zhang.
“I ran the parent's house from house selection to payment, and in 2014, more than half a million yuan was bought for more than 90 square metres at a unit price of less than 6,000 Yuan per square metre. It was still desolate, but there were a lot of people who came to buy the house, and the people who sold the building were always in a hurry and ready to greet the next wave of guests. After Chen bought the house for his father, the house price was always up, and by 2017 it had risen to almost 9,000 Yuan/m2.
Chen is a bit of a sit-in, and he's watching Victoria Bay's house rise and wants to get on this ride.
At this point, there were many more people who wanted to buy Victoria Bay than they did a few years ago, saying, "It's too hot to buy a house in line to pay, there's no room at all, there's no room at all, there's no room at all, and it's basically what you can buy, and it's almost running down the road."
"Well, the idea was that it's gonna go up again, and I can't afford it anymore. I'm particularly happy when I pay."
In more than a year after purchasing the second flat in Victoria Bay, the house price was still a good one for Chen, and in 2019 it reached a high price of over 12,000 Yuan/m2.
Inside Victoria Bay: NBD Reporter Wang Jia Fei
But this is not the case, especially after 2020, when Victoria Bay’s house prices began to fall off the cliff. The locals gave almost “too many houses” on the question of why the prices were reduced. Chen said that he was scared about the price of the house, and when the child reached the age of school, she sold a house in Victoria Bay to buy a house in the city of Qingdao, “I don't know if it's going to fall.”
Chen then entrusted the house to the agency, “The mood that the broker gave me was that the market in the nearby second-hand room was in a bad mood and the price was lower”.
The house is fast.
There's a lot of people who come to see the house, but they don't want to get high, and they say, "Sometimes I want to fall when I hear the offer from an agent."
After receiving 10 small visitors, Chen's house was finally sold at a similar price. Chen, after all, invested in Victoria Bay for a few years and lost some money.
Victoria Bay Street View: NBD Reporter Wang Jia Fei
That's how Chen fled Victoria Bay. So far, he's making a timely decision, and there's no sign of a rise in house prices.
And Chen's father still chooses to live here: "It's none of my business."
Victoria Bay was placed in high hopes.
On 12 September 2013, the Wanda Group took 15 parcels of land, totalling more than 3.5 million square metres, at a cost of over $2 billion in the Yellow Island region, 13 of which are located in the former port of South Harbour in the Yellow Island area, where the Victoria Bay community is now located.
But a few years later, Wanda, a convoluted “century-long merger”, changed the name of the Bottle Company from Qingdao Yacht Industries Investment Ltd. to Qingdao Yacht Industries Investment Limited, and the name of the project from the Vandak Sea Hall to Victoria Bay.
The journalists followed the local agent, Li, to see the many housing units in various parts of Victoria Bay, some to look at the sea, others to look down on the entire area, all of which have the same characteristics — all new and uninhabited.
In the night, the blue face of the sea turned into a vast ash, encircling the vast sea-viewing community that is still under development.
Small-scale construction, small-scale sales
In Qingdao, the term is a very rich word, representing not only time but also uncertainty. Many people have the mentality of “bought a room better than a second-hand one, and you can live in it on your feet”.
Also located on the western coast of the Bay of Victoria at the edge of the ancient town of the New Zone, which sits on the scenery of Great Pearl Hills, is concentrated on a number of sea-bound projects, in the words of Xiao Li, a Qingdao real estate practitioner: “This is an area of heavy channels where developers are often in a vulnerable position.”
In May, Qingdao ranked first in the country with a total stock of 25,250,000 square metres. According to Qui, the entire Yellow Island area of the new West Coast region has reached 36 months in the first half of the year.
In this market environment, sea-viewing projects have produced price-for-price weapons, and developers have become careful to develop slowly with small-scale construction and small-scale sales.
There are currently three close-knit projects at the mouth of the ancient town, Jooshan Soo-Wu, Joy and Mountain Sea, and Sea-speaking East.
After an advertisement of 1.6 million Yuan to buy the existing villas, the salesmen came to the premises and said, “There are only a few small villas left, mainly for foreign houses”. The project has been completed and is in the current state of the building, which currently has a gross price of 12,000 Yuan/m2, with 14000 Yuan/m2. There are no visitors at the sales office: NBD Reporter Wang Jia Fei
According to public sources, the cost of opening the project is about 10,000 Yuan/m2, with a modest increase over eight years.
The salesman insisted, "We're in the current room, and you'll be able to live in it."
From the point of view of the city of Qingdao, the ancient town entrance is a bit remote, driving about 50 kilometres to Qingdao station, while the subway takes more than an hour.
The other side of the western sea language is selling phase three, with an offer of about 11,000-12000Yuan/m2, and journalists learned that the maximum distance between the two stages of the project on 22 August 2017, for which pre-sale certificates were obtained, was 17000Yuan-24000Yuan/m2, has now been cut off. A project in the built-up Yellow Island: NBD Reporter Wang Jia Fei
Almost in parallel with the sea-speaking East are the Ringhing Bay and Park One, both of which are known by many local media as the “largest vegetable base in Qingdao.” According to public sources, the Ringhook Bay was once sold to 25,000 Yuan/m2 and the park No. 1 was opened at around 2000Yuan/m2, but today they are almost out of the market. Ink in the north of Qingdao is also a large sea viewing house at the heart of the official blue Silicon Valley.
When journalists arrived in the Blue Silicon Valley at the end of June, it rained on the same day, the Blue Valley Light Building was not crowded, the sales people came late and confirmed the purpose of the trip several times, as if it was surprising why a visit would be made at this time.
Blue Silicon Valley to construction site: NBD Reporter Wang Jia Fei
According to the salesman's brief history, "The development cycle used to be strong, building a lot, selling a lot. Now, the pace of decolonization is slow, just selling a little bit, building a little bit, and the developers are afraid to make their own money too expensive."
Journalists have asked a number of people in the Aoshima real estate industry why the scenario described above appears in the Seaview House, and the responses are mostly “influences.” But it is clear that four words are not enough to explain everything.
Investors for 1.66 discounts and “Emergency, Telephone xx”
She's an investor, usually living in Shenzhen, who buys many properties in the Great Bay area. If she hadn't sold her house for more than six months, she wouldn't have come to show her own reporter's house, and can't even remember that she has this house in Huezhou.
Outside the balcony of this house, there's a banner called "Selling House, Telephone xx".
Listed as a fast-saled house source: NBD Reporter Chen Yong Ho
"In such a hot day, there's no air conditioning in the room. It's cool."
On a hot summer day, she did not open the room air conditioner, which, in her view, was very ubiquitous, well ventilated and particularly comfortable in the back of the sea.
Before bringing journalists to the room, Shret cleaned the room once and walked into the room, and the traces of the ground that had just been dragged were still visible.
The house is typical of a large suite, with a big balcony, and she comes here every year for a few months, mainly for vacations.
Although the house is not high, looking at the sea is not a problem. She feels that she has the advantage of her own house, which is not only larger than the rest of the family, but also that the building was originally intended to be built as a high-level hotel, so the overall fit-out style is better than the rest of the neighborhood.
In order to sell the Shenzhen house, Shrett came from Shenzhen and intends to dispose of the Shenzhen house after it has been disposed of and then to leave the country with the children.
Interestingly, when journalists came to see the house, they were the first customer to receive after she came back to sell the house.
Although the price of the house in the block where the house was located fell, she didn't regret it, "One rabbit has three nests and over half a million dollars is worth a sea view house."
The house was purchased in 2018 at a total cost of 580,000 Yuan, an area of 57.5 square metres, and is now sold at 550,000 Yuan.
The total price of 550000 Yuan to buy a sea house does not seem to be too expensive, but it is relatively difficult to live in a relatively mature environment if the surroundings are to live for a long time.
Ten miles of fast-sale housing on Silver Beach has a banner for selling the house: NBD Reporter Chan Young Ho.
In response to the journalist's doubts, Shenzhen and Guangzhou said, "The convenience of living is not comparable with that of Shenzhen and Guangzhou, but they usually order take-out and buy food, and we usually drive to the next county of Huedong, which is less than 10 minutes away."
She seems to have more confidence in development planning than in the basics. She points to the sea in front of the window. “The future of the sea is also planned. The future will be opened, and the tourist ships will depart from the Bay of the Moon, and there will be stations on this side, when there will be a significant increase in the flow of people in the Hyeju Seascape area. At this price, you can think with your eyes closed and you won't lose any money anyway."
Overlooking a sea house in Huedong: NBD Reporter Chen Young-ho
On 8 May of this year, in Tokyo, a set of 133.67 square metres of property in the Sea of Nine Monks was handed over for 655,000 Yuan, at a unit price of approximately 4294 Yuan/m2, representing only 3.6 discounts on the market price (approximately 11942 Yuan/m2) and 1.66 discounts on the purchase price of the original home. The Seaview Room Project in Huedong District, which was hotly searched for a 1.66-percent film set: NBD Reporter Chen Yong Ho
In the course of journalistic research, homeowners’ prices are generally reduced. “The price of seascape houses in Huezhou is now very low, roughly $67,000 per square metre, and the number of alternative floors is quite high, whereas the price of seascape houses here was generally around 12,000 Yuan/m2.
An old local broker, Xu Xiao, who has been working for 10 years, has taken a look at a variety of fast-sales sources, and basically the owner's choice is to sell at a reduced price, such as a house purchased in 2017 in the Van Gogh on the Biri Garden, which now stands at 9440 Yuan/m2.
"There's a sea view house that's not so expensive, a house with $8,900,000 for five years, and a loss of $2.3 million is normal."
Therefore, the most immediate result for owners who do not want to sell at a much lower price, such as Xiao Jiao, is that often the source of the house hangs out for six months or more, and Tianjin is still not asked.
A plate, a city.
Huedong and Huixiang Bay areas in Huixiang County have high-quality coastal resources, 50-60 km from Shenzhen, driving around about an hour and a half. Compared to the 150,000-plus unit price for many seascape projects in Shenzhen, Huixiang’s coastline is quite beautiful.
Listed by an intermediary in the vicinity of the Bay Bay World Project: NBD Reporter Chen Yong Ho
A number of projects in Huezhou are typical of the mega-plate, such as the Financial Street Bay, which covers a surface area of 29,000,000 square metres, the Bay of Huayun, which has a planned construction area of 2.7 million square metres, and the 10 miles of Silver Beach in Beguire, which has a typical plate of 1.6 million square metres, all of which are typical of a “city”. China Ride Bay: NBD Reporter Chan Young-ho
In the course of their daily field visits, daily economic journalists learn that some owners of seaview houses in Huezhou are simply for investment purposes, that they will not come to live after the purchase of the house, and that the purchase of the house will only take place at the right time; others buy old-age accommodation after retirement, resulting in temporary idleness; and some are for summer holidays, while others will not live there at any other time. NBD Reporter Chan Yong Ho
If you live in a sea house in Hue County, you are generally vulnerable to the “long-term life” dilemma, where public transport is not very well developed, taxis are not very much available, and travel is not very convenient if you have no privacy. Journalists travel in the Hue Bay area, relying mainly on four-wheeled electric vehicles driven by the local population, and in the Huedong area, usually using two-wheeled electric vehicles near the project using a sweep code. Moreover, as the heat of seascape houses fades, more and more problems lie ahead of buyers. Some buyers simply see the environment in which the seascape houses live, feel good about living here, and do not take into account the value of their subsequent use; some view the seascape houses as one of their “asset allocation” or “second and third residence” while ignoring the financial deposits, clean-up, and house management problems associated with long-term vacancies. NBD Reporter Chen Yong Ho has a low overall lighting rate for the Grand Asian Bay Sea View House project.
In the Hue Bay area, perhaps because of long periods of non-use, the swimming pools in some of the small areas are dry, while the rooms of some of the owners can smell a marked dissimilar presence due to long periods of uninhabited residence.
The overall population of many districts is not large, and this may be related to two factors, one being the decrease in the number of people travelling on vacation as a result of the epidemic, and the other being micro-level, perhaps because of the small number of people, which has led to the closure of community-related public facilities, and to the fact that there are too many catering, medical, shopping and other basics around the project that are not suitable for long-term life. Two swimming pools in different areas: normal operation and drying up: NBD Reporter Chen Yong Ho
In the Huezhou coastal area, in addition to the ten miles of Silver Beach in Beguiore, there are two typical projects, the Bay of Hua Yuen and the Bay of Finance Street, which, to some extent, represent two models of sea-viewing, using the experience of “commercial streets” and “markets”, which have been applied to sea-scape projects and which, despite the fact that the overall human flow is small, still see various shops operating normally. The Bay of Huo Yu in different ways: NBD Reporter Chan Yong Ho
Do you still have any investment in the Seaview Room?
Market statistics on seaview houses are scarce.
As another representative of the northern city, the island of Qin is also a conglomerate of seascape houses, and the island of Etsin has revealed a set of data, with a total of 24 buildings in May in the New District of the North Dai River, including one house, 23 houses in the Seascape, at an average cost of approximately 8,800 Yuan/m2, and a sea view house at an average cost of about 14443 Yuan/m2 (the above seascape price includes multiple co-hospital products), at an average price of both the same and the ring. According to public information, sales on the Blue Coast of the North Devereaux, Anaya Seaside apartments, etc., fell slightly by tens of thousands of dollars this year compared to the same period last year; there was an inverse relationship between the new house and the second-hand room, which had room for bargaining; and hotel, residential and residential prices rose sharply, while sea viewing houses fell.
On 27 July, journalists, as buyers of houses, consulted with the local sea view house agency on the island of Qin, who also stated that “the value of the project was higher this year because most of it had been reduced and projects with a unit price of more than $10,000 were in the majority”.
As well as last year's sales of the Sea View House in the East Devereaux River, the sale of a sea view house at $2.3 million is widespread, and the market is still larger than supply and demand.
Overall, according to the residents, the cost of the second-hand room on the island of Qin was approximately 1118.5 Yuan/m2 in July, a decrease of 4.66 per cent over the same period.
Qinjia's second-hand room:
The Great Sea Flower Island, located in Hainanzhou, is also a classic case of a marked decline in the price of seaview houses.
In December 2015, according to the data disclosed by Shizuta, Seaflower Island's first day offered 100,000 visitors, generating $12.2 billion in sales. At the same time, the house-source price on Seaflower Island has risen from the initial 5688 Yuan/m2 to about 20,000 Yuan/m2 by 2020, while some high-story, landscape-friendly areas are close to 30,000 Yuan/m2 and have more than quadrupled over five years. In contrast, at the beginning of this year, daily economic journalists interviewed on Seaflower Island learned that “the average price of new house tails is around 17,000 Yuan/m2, the price of general low floors is generally 10,000-15000 Yuan/m2, the price of sea floors is higher, generally over 16,000 Yuan/m2, and the price of the best sea view house is generally over 18,000 Yuan/m2. As of 2 August, the average price for second-hand houses on Seaflower Island was 12758 Yuan/m2, a decline of about 36 per cent compared with the peak of 200000Yuan/m2 in 2020.
In contrast, China’s Bay of Water is relatively strong in terms of prices. According to a journalist’s field interview in the Bay of Water in May of this year, the price of second-hand houses in the Bay of Water now generally varies between 2000 and 3600 Yuan/m2 and the total price of houses varies between 1.8 million and 3,000,000 Yuan. According to Hainan House Data, the Water Bay Project stood at 25,000 Yuan/m2 in October 2019, at a price of 30,000 Yuan/m2 by June 2021 and at an average cost of 28,000 Yuan/m2 at the end of July this year. Clear Water Bay with a high-level perspective: NBD Reporter Chan Young-ho
The Hu Yun Institute had published a China Luxury Tourism Report, in which nearly half of the high-end tourists had purchased vacation houses, the preferred of which was the Seaview House. The purpose of the resorts is not only to take vacations, but also to invest in old age; the average size of the resorts purchased is 100 square metres, and the apartments and villas are their favorite type of household. According to Mahombo, “The sea view house, as an investment option, has a value threshold, it is difficult to rise when it reaches a high value point, and market performance depends ultimately on the value of the city as a whole. Today’s shortage of real-estate markets has also affected sea-view houses with investment properties, resulting in a decline in the value of this special product.”
For businesses, it is not easy to get the Seaview House project right, it is not just to build the house on the beach, but it is more likely to test the enterprise's combined operational capabilities, such as how to make owners willing to stay, how to ensure ease of life for their owners, and so on.
On the afternoon of 25 July, the Director-General of the National Centre for the Study of United States Property informed daily economic journalists through WeChat that, in recent years, real estate prices in most of the country's cities had gone down, and that the decline in seascape houses, which were one of the categories, was predictable, and that the blow would be even more pronounced for seascape projects, where the supply was large but the demand for housing was not fully kept up to date. “In the past, the investment attributes of seascape houses have been stronger than those of residential ones. Many seascape housing projects, mostly focusing on old age and vacation, have led to a decline in the flow of people in these regions, as well as a decline in the expected return on investment in seascape houses. Some of the sea-viewing projects are not kept up because of long-term living accommodation, and it is easier to give people a chilling feeling when it is not a tourist season, coupled with the down-roading of national real estate prices, which can easily provoke dumping by some owners, as well as the possibility of a price reduction. “The Seaview House, as a residential product for short-term tourism, I believe has a market share, but the time when prices return to the rising zone depends on when the epidemic ends and when the real estate market returns to normal trading levels.”
“In the case of seaview houses, I believe that ways should be found to increase the added value, including environmental premiums, improvements in living arrangements, and the creation of niche tourist attractions, which would help to increase their resilience and provide more sustainable development opportunities for the project.”
On 26 July, a ToP10 brander told journalists via WeChat that there should be no rebound in the seaview room in the short term.
“First of all, confidence in the overall real-estate market has not been restored, and seascape houses will be affected. Moreover, consumers have become more rationally mature and less interested in investing in the type of housing that is closer to the sea than they were in the past, choosing products that are also coastal cities, slightly away from the sea. The choice of sea-view houses is largely a matter of travel, vacation, and the current epidemic causes a certain impact on local travel and is an important factor in the cooling of markets.”
In the case of the sea-view breakup, Mahombo says, "To upgrade the whole vacation, it needs to be perfected, the product upgraded, and it needs to be able to live long enough to attract people. Or by operating, turning the seaview house into a house or hotel, and by operating it to raise its value. In the final analysis, it's going to have to be a home for people, whether they buy it or rent it. Reporter: After the slump, the seaview room needs to jump out of the concept of a pure seascape.
There's a hot topic on a social platform every year: the North has never seen the sea and the South have never seen the snow. Which is more regrettable?
Seascape houses have a particular relevance. Over the past few years, as people's standard of living and income levels have risen, many people have been willing to consider seascape houses as part of their personal asset allocation, especially those who are about to retire and who like to travel.
For seaview houses, “environmental resources” are the bottom line, and as long as the bottom line is not destroyed, the value of seaview houses will remain. But it is true that seaview houses have experienced a variety of problems over the past few years, mainly in terms of falling prices, poor surroundings, etc.
At the end of June, in Qingdao, the sun was strong and sometimes the sea wind was fast. As a result of interviews with Seaview Houses, journalists met with many people in Qingdao, owners, shopkeepers, housekeepers and farmers, and there was a consensus that the price of Qingdao Houses, especially Seaview Houses, had fallen, but the journalists did not hear complaints in their words, more in the face of the current energy and vision for the future, and they said: “I want to differentiate the products, deepen the channels, and the market will return in the second half of the year. A similar phenomenon exists in Huezhou, where some owners are reluctant to sell their houses at lower cost, resulting in a year-long failure to sign up; and others who have had to come from outside to sell the sea view house in Huedong, where they are “intermediate”. In addition, the surroundings of the seaview houses are based on the largest number of proprietors, some of which are simply standing on the edge of the road, and the ease of daily life is somewhat negligible, except for the viewing of the sea. The seaview house is surrounded by people outside who want to go in, people inside who want to come out.
 Shenzhen Xinjiang Wang Xinjiang has a unit price of nearly 130,000 Yuan, South Daily.
 Precision allocation of resources to guarantee the use of the sea for first-class cities.
(Reporter: Wang Jiafe Chen Yong Ho's vision: Zooley Video Editor: Step-by-step layout: Chen Dream)