Recently, local state-owned enterprise Zhu Shi Real Estate in Guangzhou launched a “live first, buy later” plan. From October 31 to November 30, three projects under the company, including Zhujiang Huacheng, Tianhe Yipin, and Yunhu Huacheng, will participate in this program.
“Try before you buy,” “try before you wear,” and “try before you use” have long been mainstream consumption models, and now this experiential consumption logic has entered the real estate market.
According to a report by “China Business Daily,” customers participating in the “live first, buy later” plan by the real estate company Zhu Shi Real Estate are required to pay a deposit of 100,000 yuan and sign a “live first, buy later agreement,” after completing the procedures for staying in the experiential housing, they can move in.
During the trial period of “live first, buy later,” customers can officially purchase the property by paying the down payment, completing all loan procedures or paying in full, and signing the contract online.
It is important to note that the experiential housing is designated and may differ from the property that the customer intends to purchase in the end. If a customer chooses to withdraw from the “live first, buy later” plan (i.e., not to buy the property) after the trial, they will be responsible for the corresponding housing occupancy fee according to the terms of the signed agreement, and complete the withdrawal procedures.
The person in charge of Zhu Shi Real Estate stated that the purpose of “live first, buy later” is to eliminate buyers’ anxieties of “buying a blind box.” By using the “live first, buy later” model, customers can have a deeper understanding of the project’s product quality, community environment, supporting facilities, and property services.
Netizens have been discussing the implementation of the “live first, buy later” plan by Zhu Shi Real Estate.
HappyLifeOnline: Similar sales tactics have been tried in the real estate market during slow times before.
Christine01: If you are not satisfied after moving in, you still have to pay the housing occupancy fee.
This is not the first time a Guangzhou property has experimented with the “live first, buy later” model. Last year, Huadu Zhongcheng Jinglong Bay introduced a similar experiential model.
In early August this year, Zhu Shi Real Estate launched a “price guarantee” measure covering seven properties on sale in Guangzhou, claiming, “The price is guaranteed until the end of the year, and you can claim the price difference if you buy at a higher price (up to 200,000 yuan in property management fees).”
Guangzhou Pearl River Industrial Group Co., Ltd., abbreviated as Pearl River Industrial Group or Zhu Shi Group, was established in June 1979 and is a large state-owned enterprise wholly owned by the Guangzhou Municipal Government. It owns listed companies such as Zhujiang shares (SSE: 600684) and Su Jiaoke (SZSE: 300284).