Through the wealth life

Chapter 618
Since the 24th of last month, the property market in Xiangjiang has continuously listed houses and storefronts. Similarly, the rental and sales of office floors have also continued to increase, and prices have continued to decline.

In just over 20 days, the number of newly added houses in Xiangjiang has exceeded tens of thousands of second-hand houses, and there are no statistics on the newly opened houses.

However, during this period of time, there were very few buyers, which made Xiangjiang's homeowners who were about to sell off even more impatient, so they had to lower their prices repeatedly.

After the real estate market entered the cold winter, not only these real estate speculators and the middle class who were immigrating and eager to sell their real estate were anxious, but also the small real estate companies in Xiangjiang began to be unable to bear it at this time.

These small companies themselves do not have much capital, and their ability to resist risks is very weak. Most of the funds for project development and real estate are borrowed. The drop in housing prices makes the properties they mortgaged to the bank insufficient to borrow so much Funds, they need to make up the gap.

On the other hand, the real estate market is facing the coldest winter in several years, and they are temporarily unable to withdraw funds, which makes them full of pessimism about the future.

In order to be able to withdraw funds and protect themselves, these small real estate companies have joined the army of price reductions. In some areas, the prices of the Xiangjiang property market have dropped by a quarter of their peak.

At such a severe moment for the Hong Kong property market, on the morning of the 17th, Li Guangyu attended the meeting of the Hong Kong Real Estate Business Association.

When Li Guangyu entered the conference room, he saw that many members were frowning, obviously worried about the recent situation in Xiangjiang.

After Li Guangyu said hello to some elders, he came to sit beside Li Zhaoji.

Among them, Li Guangyu, Stanley Ho, Lee Shau Kee, Li Ka-shing, and Guo Desheng are the most relaxed. They all develop real estate in Japan. Xiangjiang has not opened any major projects for more than a year. There is a lot of cash in hand to clean up the property in Xiangjiang.

Since Zheng Yutong got on the train later, he was also working with Chen Zengxi, Zhao Shizeng and others to develop the property on the Xiangjiang subway station. This time the pressure was very high.

At the meeting, Chairman Huo Yingdong made a brief report on the current situation of the Hong Kong real estate market, and asked everyone present their views and suggestions on the current situation.

Huo Yingdong himself is not in a hurry, he has not engaged in real estate development, so the pressure on him is not too great.

Li Guangyu, Lee Shau Kee and others are currently thinking that they have nothing to do with themselves. At this time, they will not express any opinions. They still think that the property market will continue to fall, and then they will be able to enter the market for bottom hunting.

At present, Chen Zengxi of the Hang Lung Group is most anxious. They have put all the group funds on the property development on the Xiangjiang subway station. A lot of funds come from their own Hang Lung Bank. Once the property market continues to decline, Hang Lung Bank is very It may be implicated by this side and run on by the citizens, and their family will suffer a lot at that time.

Chen Zengxi saw that Li Guangyu and the others did not speak, and he said: "The property market in Xiangjiang is currently in recession due to some political factors. I believe this problem will be resolved soon. At this time, we need to maintain the stability of the property market price and avoid the possibility of a collapse. When the situation arises, as long as the dust from this incident settles, the property market will pick up."

These views of Chen Zengxi have been supported by many members. They all hope that the members of the association will work together to maintain the price and prevent the property market from falling rapidly, so as to protect their interests.

As long as the real estate market does not fall, they do not need to replenish funds from the bank or take more properties to mortgage, so their pressure will be much less.

They can only bet that this incident will pass soon, otherwise the property market will collapse.A lot of them here can't afford it either.

Li Guangyu didn't care about such an issue. Anyway, the few of them didn't have any properties to sell at present. At this time, they still wanted to use the power of the association to unite to keep the property market prices from falling, which was basically difficult to achieve.

Now the real estate speculators and people who want to leave are constantly selling properties, and the real estate business association can't restrain them. When the time comes, these members who maintain the price are afraid that all the properties will be in their own hands.

Vice President Ho Hongshen said: "Zeng Xi, I'm afraid this matter will be difficult to achieve. Don't you know the current situation in Xiangjiang? How can our association alone stabilize the price of the property market? If we really want to do this, then only I am afraid that the members of the association will be dragged to death in the end. The price of the property market is not falling by our association members, but by many speculators and small and medium real estate companies. We do not follow up and withdraw funds as soon as possible, but want to maintain the property market price If not, I'm afraid it will end up being a wedding dress for others."

Of course Chen Zengxi himself is aware of the current situation, but he does not want the property market to collapse so quickly, he needs a buffer period to prepare.

Due to his aggressiveness in the past few years, a lot of Hang Lung Group's development funds come from loans from Hang Lung Bank. Once the property market drops rapidly, then Hang Lung Bank is likely to be hit by thunder, especially because the Hong Kong Financial Management Authority has strengthened its financial investment. Institutional and banking regulation.

Chen Zengxi is very clear that Stanley Ho, Li Guangyu and others all hope that the property market will fall as soon as possible, and it would be better if some groups are thunderstorms or even go bankrupt.In this way, there will be a cascading effect on the stock market, and the stock market will continue to fall, so that they can make more profits.

Regardless of whether everyone is in the same association, everyone does not have the same idea. It is simply impossible for Li Guangyu, Ho Hongshen and others to harm their own interests and maintain the stability of the property market price.

Just like last month, a press conference was held in the morning to be optimistic about the future of Xiangjiang, and will increase investment in Xiangjiang.In the afternoon, the stock market suppressed the market that had just rebounded.

I'm afraid that at this time, the Li's consortium and its interest groups are hoping that some real estate groups in Xiangjiang will go bankrupt as soon as possible, so that they can not only make a fortune in the stock market, but also have one less competitor in the real estate industry in Xiangjiang in the future.

Chen Zengxi said: "At this time, if our groups are not prepared to maintain the prices of the Xiangjiang property market and join the army of price cuts, I am afraid that the Xiangjiang property market will collapse in an instant. You must know that it is us who occupy the majority of housing resources. Once these enter the market , It will only exacerbate the panic in the market. At that time, real estate speculators and small and medium-sized real estate developers will even sell at a loss. This will be a disaster for everyone.”

Huo Yingdong knew what Chen Zengxi was thinking. He hoped that the Xiangjiang property market would remain sideways and not let the property market prices go down. As long as the association agrees with this point of view, the Xiangjiang property market can still survive with their ability.

It's a pity that Chen Zengxi made a wrong calculation this time. How could the Li's consortium and its interest groups cause the property market to go sideways? They all hope that the property market will fall into a trough, so they can enter the market to buy the bottom.

Huo Yingdong himself disagrees with this approach. Isn’t the current housing price in Xiangjiang counted? How much has it risen in just a few years, but now he wants to maintain his profits sideways. It will take decades for the citizens of Xiangjiang to be able to If he could afford a flat, it was just a shameless act, and he would not support it.

Chen Zengxi also failed to fulfill his wish at the end of the meeting, and his proposal was not approved by the association in the end.

(End of this chapter)