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Protest over 20% price drop for new home buyers
By Zha Minjie |
February 20, 2012, Monday
|
Print Edition
Print Edition
HUNDREDS of property owners of a residential project protested at the developer's sales office in Shanghai's Baoshan District on Saturday after the firm allegedly cut the average selling price of units at its project by about 20 percent to new buyers.
The disgruntled owners gathered at the office of Poly Real Estate Group Co and confronted security guards and sales managers and posted pictures they took online, which showed eggs thrown inside and broken glass.
They also held banners outside demanding "their money back" and compensation.
The unhappy owners said Poly "has cut the average price of the project a lot" to new buyers in the Leaves Whisper residential complex in Baoshan's Gucun area, which was the city's best seller last year as more than 1,500 apartments were sold.
Owners paid an average price of 19,000 yuan per square meter in the fourth quarter last year and also had to fork out the decoration costs.
They complained that the fully-decorated units at the complex are now sold by Poly at an average of 17,000 yuan per square meter, with renovation costing 2,000 yuan per square meter paid by the developer - or a 20 percent discount from what they paid.
"We want a reply as soon as possible," said an owner, surnamed Hong, in an online property forum. According to Hong, the owners are now discussing with the developer to compensate them for the decoration costs as compensation.
Poly's sales managers clarified to a news website, www.163.com, that it's not a price cut for all units as the price cut refers to just 300 new apartments whose sales have not started.
Occupying developers' sales offices is now a common method taken by disgruntled owners who bought apartments before a price cut to protest and demand compensation.
The disgruntled owners gathered at the office of Poly Real Estate Group Co and confronted security guards and sales managers and posted pictures they took online, which showed eggs thrown inside and broken glass.
They also held banners outside demanding "their money back" and compensation.
The unhappy owners said Poly "has cut the average price of the project a lot" to new buyers in the Leaves Whisper residential complex in Baoshan's Gucun area, which was the city's best seller last year as more than 1,500 apartments were sold.
Owners paid an average price of 19,000 yuan per square meter in the fourth quarter last year and also had to fork out the decoration costs.
They complained that the fully-decorated units at the complex are now sold by Poly at an average of 17,000 yuan per square meter, with renovation costing 2,000 yuan per square meter paid by the developer - or a 20 percent discount from what they paid.
"We want a reply as soon as possible," said an owner, surnamed Hong, in an online property forum. According to Hong, the owners are now discussing with the developer to compensate them for the decoration costs as compensation.
Poly's sales managers clarified to a news website, www.163.com, that it's not a price cut for all units as the price cut refers to just 300 new apartments whose sales have not started.
Occupying developers' sales offices is now a common method taken by disgruntled owners who bought apartments before a price cut to protest and demand compensation.
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