Wenzhou Speculators Fleeing The Truth Of The Property Market

Wenzhou Housing Group suspended

After the two sessions this year, the Xinhua News Agency continuously criticized the domestic real estate market, and some sensitive Wenzhou speculators pretended that "the rain was coming," and quickly sold the property on hand.

Lao Tung is one of them.

He was a senior member of the Wenzhou real estate group. He had sniffed the risk of the real estate market at the end of last year. He sold more than 10 properties at the beginning of this year.

"GDP has already increased by 10%. If your assets are running out of CPI, your assets will shrink."

For the real estate new deal regulation, Wenzhou real estate group member Lao Dong disagrees.

Wenzhou people are very good at leveraging the leverage of capital.

Wang Zhennan, general manager of Wenzhou Tian Hao Real Estate Co., Ltd., interviewed by China Securities Journal, said that if the down payment is only 40%, Wenzhou people will be able to pry up 60% of the funds, so that the funds can be magnified 1.5 times.

If it can not be amplified, the purchase of all their own funds, it depends on whether there is appreciation potential.

However, under the new combination of the property market, Wenzhou real estate group has chosen to give up temporarily.

Referring to the Wenzhou real estate group, we have to mention the Wenzhou evening news. In 2003, the Wenzhou evening news opened the first sight of different places. The group took people to Shanghai, Beijing, Hangzhou, Hainan and other places to buy houses. The house group activities continued until April this year, but after the introduction of the national real estate new deal, the Wenzhou evening news house stopped.

"Wenzhou Evening News" real estate studio a planning staff to accept the China Securities Journal reporter interview, said the house group has stopped, at least 3 months, and before the newspaper downstairs is a "never-ending" exhibitions, many cities throughout the country developers choose Wenzhou to promote the project.

But now there is no real estate recommendation, and some projects have been postponed.

Not only is it difficult for the housing group to reappear in the past, but even the once held exhibitions will encounter difficulties in attracting investment.

At the end of May, Wenzhou had to engage in real estate. Now the investment situation is so bleak that it has to pull some second-hand housing sources to save the market.

However, the China Securities Journal reporter learned in the interview that the Wenzhou real estate group did not sell large areas. At present, Wenzhou people should withdraw less than 10 billion yuan from the domestic property market, which is less than 10% of the total property investment of Wenzhou folk investment funds.

A group of latest data from the Wenzhou branch of the people's Bank of China showed that in April, the new deposit balance of Wenzhou's financial institutions was 400 million yuan, less than 1/1000 of the total.

Ling Yong, deputy director of the Wenzhou branch office of the people's Bank of China, said in an interview with the local media that from the data we have grasped, there has not been a phenomenon of domestic deposits soaring abroad.

Equity investment and gold investment are increasing.

The prophet of warm spring duck.

Wenzhou investment customers have fried taxi license plates, residential shops, coal, gold and even garlic. Every move of Wenzhou's hot money has aroused special concern.

At present, both PPI and CPI are rising. Especially in April, the rising raw material prices have caused great pressure on the prices of the latter products. Therefore, under the regulation of the housing market, seeking the channel of value preservation and appreciation has become an urgent need for Wenzhou investors.

In May 16th, at the Wenzhou private capital summit, Wenzhou investors began to look for the next direction for capital.

China Galaxy Securities Limited by Share Ltd Zhong Xiaojun, general manager of the securities business department of Wenzhou Da Nan Road, told the China Securities Journal reporter that at present there is no evidence that the property market has entered the stock market, but some investors are interested in equity investment.

Zhong Xiaojun attended the Wenzhou private capital summit. He said that most of the members of the real estate sector are still optimistic about China's real estate for a long time, but only short-term profits are "locked".

China Securities Journal reporter learned that the Wenzhou SME Promotion Association is leading the formation of the Wenshang foreign investment alliance, which will include all kinds of privately run funds run independently, and entrust experts to invest abroad.

At present, Wenzhou has private placement in Wenzhou, which has attracted nearly 200 million yuan in just a few days.

According to the analysis of the industry, if many equity investment institutions are really standardized, and indeed can bring stable and substantial profits to Wenzhou capital, it is inevitable that a large number of Wenzhou private capital will pour into the equity investment market.

In Wenzhou, the trend of private capital turning to VC and PE is obvious. According to the data, Wenzhou has invested about 20 billion yuan in various fields in the field of equity investment.

The China Securities Journal reporter also found in his hotel that there were Wenzhou local bosses participating in the preaching conference of venture capital agencies.

A Wenzhou brokerage told the China Securities Journal reporter that similar venture capital institutions had raised funds in Wenzhou as early as the first half of 2008.

However, with the subsequent financial crisis, the pace of Wenzhou's private capital entering the PE industry has slowed down significantly, and the scale of fund-raising has also declined significantly.

But recently, it has obviously felt that it is rising again.

In fact, many Wenzhou businessmen, though manufacturing, are not satisfied with the gross profit margin of manufacturing 5%-8%.

"It's hard to make money in labor-intensive industries in Wenzhou. It's very difficult to earn 3% of gross profit."

Lao Tung said that Wenzhou people do not like to deposit banks. The interest of banks is not worth CPI's consumption. They prefer to put in private credit, and they can recover 10 points a month.

In an interview with China Securities Daily reporters in Wenzhou, it was heard that Wenzhou investors bought millions of yuan, or even tens of millions of yuan, of physical gold.

Data show that the sales volume of gold bars in China's gold Wenzhou flagship store has increased rapidly, and investors have bought gold from the past according to "Ke" and upgraded to "Jin" purchase.

Investing in "value depression" City

"Wait-and-see" has become one of the most used vocabularies in Wenzhou. Under inflation expectations, there has been no significant sell-off in the real estate group.

"The most important thing is that after the introduction of the new deal, the market paction has shrunk dramatically, and wait-and-see sentiment has been strong. Even if it is sold, no one will take over."

Lao Tung said.

However, investment areas are changing.

Since October 2009, a small number of Wenzhou investors who have changed from Shanxi coal to divestment have gathered in Sanya. A small part of them has been pferred to Dubai, Australia and other places, especially the recent domestic property policy. Even the Wenzhou real estate group has shown some interest in fighting overseas markets, but many policies and regulations are not familiar with them. Wenzhou real estate group is still more cautious, but it is not as enthusiastic as expected. Most of the funds are still waiting in hand.

Wang Zhennan thinks, "this part of the fund has about 30 billion yuan."

China real estate information group conducted more than 1000 interviews with property investors between 20 million yuan and 500 million yuan. The results showed that some investors began selling some of their property in September 2009.

"Some investors have begun to shift to offices and shops. Housing prices have risen in the past few years, while commercial real estate prices are relatively low. Some high quality office buildings and independent shops have become their focus."

China real estate information group analyst Xue Jianxiong said.

As the new deal has been suppressed, most of Wenzhou's capital has suspended investment in new front-line real estate projects, but many investors have turned their attention to Zhuhai, Xiamen, Kunming and other second-tier cities.

Wang Zhennan said, "these cities are typical value depressions, and there are potential for growth. Although they are subject to regulation, they do not belong to areas where housing prices are too high or too fast, so they are less affected by regulation."

The investment trend of Wenzhou people also confirms the Research Report of Xue Jianxiong, an analyst of China real estate information group. Xue Jian HSI has made a directional investment proposal for tens of millions of investors and is concerned about some resource-based three or four line city real estate.

Xue Jianxiong believes that in the case of overheated economy, the state should eliminate some excess capacity and pfer some relatively mature industries to three or four line cities. The construction of national expressways and railway networks also provides the basic conditions for the current industrial pfer. Therefore, in the coming years, there will be some small and medium-sized cities that are twice as many as GDP in three years, such as Ordos (600295) and Baotou.

Investors with a keen sense of smell may enter this round of market timing.

Behind the wait-and-see sentiment, the Wenzhou real estate group does not have unified internal opinions. They even have opposite conclusions about the real estate market.

Before the failure of macroeconomic regulation and control, it has given habitual habitual thinking to the real estate dealers. He believes that at present, it only causes wait-and-see sentiment, but he doubts how long the property policy can last. He thinks that the results of the previous rounds of regulation may be copied. Some of the serious bubbles in the serious area can obviously be contained in a short time, but in the long run, they are still optimistic about Chinese real estate.

Lao Tung said that the keynote of this national regulation is "curb excessive growth".

However, there are also speculators who believe that the environment is no longer a few years ago. The time for real estate speculation is over, and that it is almost impossible to introduce money into the property market.

"Now the most worried about the tenant is the tax, if the high tax rate, then the real estate speculators is a blow."

"No other business tax can be passed on to the next family," he said.

Local government takes the initiative to guide

Zhao Yide, mayor of Wenzhou, said in an interview with the media that according to incomplete statistics, the private capital flowing in Wenzhou has reached about 600000000000 yuan, and it is growing at a rate of 14% per year.

How to improve the safety and yield of private capital investment, how to effectively guide private capital to the direction conducive to the healthy development of national economy has always been a matter of deep concern for the municipal government.

It is reported that Wenzhou will set up an equity operation center and Wenzhou private capital investment service center, which will be formally operated after June to integrate Wenzhou's private capital.

Among them, Wenzhou private capital investment service center intends to introduce more than 50 domestic and foreign investment institutions and fund companies, and centrally release information on supply and demand sides of "capital and project".

The Wenzhou stock rights operation center wants to realize the pfer of non-listed company shares, so that private capital and industrial projects can be effectively docked.

In May 13th, "new 36" of private capital, like a spring thunder during the period of confusion, opened another window for Wenzhou real estate group funds.

Whether the new 36 item can activate Zhejiang's "dormant" private capital remains to be seen.

The China Securities Journal reporter learned that at present, Zhejiang businessmen, including Wenzhou businessmen, are still waiting for the "new 36 rules" to come down and look forward to really breaking the "glass door" phenomenon in the development of private investment.

"If we have broader investment channels, we will not get together with real estate."

One investor said.