“Thunderstorm” of shared property houses in a downtown area of Qingdao

The first thunder in the property market in 2023 will blow up in the third city in the north. This is likely to be China’s first “unfinished” co-ownership house. In January this year, a citizen of Qingdao left a message in the mayor’s mailbox, pointing out that a certain project in Chengyang was completed but the housing was not handed over. The biggest obstacle came from the local municipal investment group. According to the description of the party concerned: He signed the contract online in April 2021, and the down payment of 1.5 million was called to the developer Longfor, which is a municipal joint property right. Therefore, Qingdao Jiaan Operation and Management Co., Ltd. should contribute another 760,000. Seeing that the project was handed over early last December, the developer did not give the key. After penetrating through the equity, it was found that Qingdao Jiaan Operation Management Co., Ltd. is 100% held by Qingdao Chengyang Municipal Development and Construction Investment Group Co., Ltd. | Related reading (Zhigu Trend)

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Urban investment companies are short of money, and worries about urban investment debt thunderstorms have been pushed into hot topics last year. When investors and local governments are worried about how the domestic outstanding debt of more than 60 trillion yuan will be softly landed, the owners who share property rights with the urban investment company as the directly related party should also have a vague sense of crisis.

This time, a project in Chengyang, Qingdao City is China’s first “unfinished” co-ownership house, and its negative symbolic meaning is self-evident. This matter is now on the hot search. According to the local government’s past experience in dealing with such negative issues, I believe that the local government will be able to find a solution immediately to calm public opinion.

As an investor, I am more concerned about the return on investment of ABS products for shared property housing. This type of real estate is different from commercial housing. On the one hand, it will be difficult to trade in the market due to property rights issues, so there is not much room for a premium. On the other hand, even if the leasing method is adopted (Beijing rented out shared property in March last year), it can provide continuous income for ABS products, but the income should be much lower than that of pure rental properties and parks. After all, people who buy this type of property Mostly for self-occupancy.

So is it a good choice to invest in ABS products of shared property housing? Hope someone can answer this question.

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