Core Insights - The property "Sen Yu Hai" in Hangzhou, once highly anticipated, is now facing significant price declines, with recent auction results showing a drastic drop in value compared to initial prices [1][4][8] Group 1: Property Overview - "Sen Yu Hai" spans 5000 acres and was developed by the leading real estate company, Sunac, initially positioned as a major project comparable to Liangzhu Cultural Village [1] - The project was launched in 2019 with an average price of 14,000 yuan per square meter, but the current auction price for a unit has fallen to approximately 8,300 yuan per square meter, representing a 56% decrease from the original price [1][4] Group 2: Market Trends - The property has seen a continuous decline in prices since last year, with reports indicating that units can now be purchased for as low as 5,600 yuan per square meter [7][8] - Recent data shows that in September and October, the average transaction prices for second-hand homes in "Sen Yu Hai" were 7,300 yuan and 7,800 yuan per square meter, respectively [11] Group 3: Auction Results - A recent auction for a 138.8 square meter unit concluded at 1.15 million yuan after 38 rounds of bidding, indicating increased interest compared to a previous failed auction [1][7] - The initial auction price was set at 1.03 million yuan, which did not attract any bidders, highlighting the challenges in the current real estate market [7][8] Group 4: Location and Development Challenges - "Sen Yu Hai" is located over 35 kilometers from downtown Hangzhou, which has contributed to its declining appeal due to poor transportation and limited amenities [8] - The project was previously known as Yun Du Mei Nong and faced bankruptcy issues before being acquired by Sunac in 2019, which has since invested significantly in its development [8]
205万元买的森与海今日法拍，成交价仅115万，跌去44%！