Core Viewpoint - The recent significant price reductions by China Overseas Land & Investment (中海地产) in Nanjing's residential projects have sparked dissatisfaction among existing homeowners, leading to protests and demands for the cessation of low-price sales [2][3][8]. Group 1: Price Reduction Impact - China Overseas Land & Investment has reduced the price of its Nanjing project, Guanjiangyue, from an initial price of approximately 34,000 yuan per square meter to 23,000 yuan, representing a nearly 40% decrease [2][4]. - The price drop has led to a surge in interest from potential buyers, with around 150 units sold within a week, causing existing homeowners to feel their property values have plummeted [4][5]. - Homeowners are expressing frustration, feeling that the new pricing undermines their investments, with one homeowner stating their property is now worth 2.5 million yuan, a loss of 1.5 million yuan [5][6]. Group 2: Homeowner Reactions - Homeowners have begun to restrict access to their community, preventing real estate agents and strangers from entering, which they believe disrupts their living environment [4][6]. - The actions of homeowners reflect a collective response to the perceived unfairness of the price reductions, with some homeowners actively monitoring and controlling access to their properties [3][4]. - Homeowners have initiated negotiations with the developer to halt low-price sales and stop the signing of contracts for recently sold units [8][9]. Group 3: Market Dynamics - Real estate agents acknowledge the price cuts but argue that they are within a reasonable range compared to surrounding properties, suggesting that the market is adjusting rather than being disrupted [8][10]. - The competitive pricing of new homes is attracting buyers away from second-hand properties, indicating a shift in buyer preferences towards new developments [8][10]. - The ongoing negotiations between homeowners and the developer highlight the tension between market pricing strategies and homeowner expectations in a fluctuating real estate market [9][10].