Why is Jinling Fengqi Garden so hard to sell?

First of all, Jinling Fengqiyuan is positioned as a high-end real estate, with all units being large in size over 130 square meters. Large apartments, with high total prices, are not an advantage for home buyers who are just in need or those who want to improve their homes.

Those who just need to buy a house will feel that the total price is too high, and for those who want to improve their house, it will be difficult to resell the house again. After investigation, it was discovered that the auction of these properties was due to a dispute over a sales contract. In fact, a property in Jinling Fengqiyuan was once judicially auctioned. Among the five properties auctioned on November 23, except for two, the auction was suspended, and the other three properties were all sold at the auction reserve price.

Similar to previous auctions, the introduction to the subject matter of this auction clearly states that any arrears in property fees, water, electricity, gas, etc. will be borne by the buyer. It is also specifically marked in red font that no loans are available at this auction and the purchase price must be paid in full.

Nature of housing

It is reported that Jinling Fengqiyuan was originally called Phoenix International Apartment, which is a serviced apartment with a 65-year property right. In November 2017, it was officially renamed Jinling Fengqi Garden. On the Nanjing online real estate website, the reporter found the sales registration of Jinling Fengqiyuan. Its page shows that this project is located in the core area of ??Nanjing's main city, at the southwest corner of the intersection of Longpan Middle Road and Changfu Street. It faces the Qinhuai River to the west, Delta Plaza to the north, and Delta Imperial Garden to the south. The land is used for residential and commercial purposes.

The project has a total land area of ??4,742 square meters, a building height of 80 meters, 25 floors above ground and 2 floors underground, and a total construction area of ??37,000 square meters of residential, finely decorated serviced apartments. Most of the properties sold in Jinling Fengqiyuan are large-sized units, mainly with areas of 131㎡ and 184㎡, and there are also 8 sets of super-large units of 317㎡. Its opening time was fixed on December 16, 2011, which means that more than ten years later, it has only sold half of its houses.