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Compared with the previous promotion of “buy a house and get a parking space for free”, real estate developers are increasing their promotional efforts.

Recently, a real estate project in Dongguan launched a "buy one, get one free" promotion, which attracted strong attention from the market. On August 1, the reporter called the project sales office, and its property consultant said that only large-sized houses over 140 square meters are available, and buyers can get a sea view apartment in Huizhou as a gift.

Dongguan Vanke responded that due to the limited number of discounted properties available for the event, the joint sales event has now ended.

In the opinion of industry insiders, the "buy one get one free" model is still quite eye-catching and can achieve the goal of attracting a certain amount of visits and sales in the short term. For homebuyers, this marketing strategy can still give homebuyers a certain amount of profit, and it is also conducive to promoting the transaction conversion of the project. However, for such free apartment products, it is still necessary to consider their location and whether there is a market for sale or rental in the future.

Dongguan Vanke responded: The special offer housing supply is limited and the promotion has ended

The above-mentioned project is Vanke Zhongtian Century Waterfront located in the main urban area of ​​Dongguan, with a size of more than 800,000 square meters, integrating multiple business formats such as residence, commerce, hotel, office, and school.

The project's property consultant said that if you buy an apartment of more than 140 square meters, you will get a 40-square-meter apartment in Huizhou Vanke Shuangyue Bay for free, with a 70-year property right. The price starts at 28,000 yuan per square meter, and it will be delivered with decoration. The unit price of a large apartment is 35,000 to 36,000 yuan.

According to market prices, the total price of the gifted house is over 200,000 yuan.

In response, Vanke Dongguan said that July is the summer vacation, and many people bring their children from Dongguan to Huizhou Shuangyue Bay for fun. The main customer group of the Century Waterfront project is between 30 and 40 years old, and the children are of suitable age. Considering that the main customer group of the project's houses of 140 square meters and above is more in line with this age group, a joint sales activity was launched. "After the launch of this activity, the market response was good. Due to the limited number of discounted houses for the activity, the joint sales activity has now ended."

In terms of price, Vanke Dongguan said that during the event, the price of a 140-square-meter house in the Century Waterfront project was about 4.5 million to 5 million yuan. If customers are interested in buying a Shuangyue Bay residence, they can buy a specific house of about 40 square meters in Shuangyue Bay at a price of about 250,000 yuan. If customers are not interested in buying a Shuangyue Bay residence, they cannot enjoy the joint sales discount. When the project was linked, there was no bundled sales, and the project price was not reduced.

The "buy one get one free" campaign is not an isolated case, and it has appeared in the market many times before. During the Qingming Festival this year, the China Merchants Brilliant Century project in Tongzhou, Beijing launched a "buy one get one free" promotion: any customer who purchases a 77-square-meter two-bedroom apartment will receive a 108-square-meter sea view ready-to-move-in apartment in Yantai for free.

The person in charge of the project said that the promotion is limited to pre-sale properties and requires full payment. In order to give back to customers' continued attention, the brother projects in the large region have jointly launched a series of activities, including Yantai vacation properties (customers can choose sea view rooms or other project promotion policies), luxury cruise tours, Yantai city tour packages and other corporate system resource benefits for qualified new home buyers. The above promotions need to be signed online before the end of April (April 30) and are limited-time promotions.

In September last year, Fuji Yunlongfu, a residential project located in Longhua District, Shenzhen, launched a "buy one, get one free" marketing campaign, which stated that if you buy a 123-square-meter apartment in Yunlongfu, you will get a 69-square-meter public housing unit in Yunyuefu, Dapeng New District for free; if you buy a 150-square-meter apartment in Yunlongfu, you will get an 84-square-meter public housing unit in Yunyuefu for free.

"Buy one get one free" has a very strong eye-catching effect and helps to convert transactions

According to the data from the National Bureau of Statistics, at the end of June, the area of ​​commercial housing for sale was 738.94 million square meters, a year-on-year increase of 15.2%, of which the area of ​​residential housing for sale increased by 23.5%.

Monitoring data from the China Index Academy shows that as of the end of May, the saleable area of ​​commercial housing in 50 representative cities, calculated based on the average monthly sales area in the past 12 months, has a short-term inventory clearance cycle of 21.3 months, which is 3.9 months longer than the end of 2023. Among them, the clearance cycle of representative third- and fourth-tier cities reached 30.7 months, and there is great pressure to clear short-term inventory.

Specifically for the Dongguan property market, Chen Xueqiang, research director of the South China branch of China Index Academy, analyzed that in recent years, as the real estate industry has entered a stage of deep adjustment, the transaction performance of Dongguan's real estate market has also been relatively sluggish. According to data from the China Index Academy, in the first half of 2024, Dongguan's new residential homes were sold in 7,629 units, a year-on-year decrease of 46%. The average monthly transaction volume was less than 1,300 units, a decrease of about 1,000 units compared with the average monthly transaction volume in the first half of 2023. Apartment market transactions also continued to maintain a low level, and inventory pressure was relatively large.

"The continued pressure on the market transaction end has also led developers to use various marketing methods to promote sales. Especially since the beginning of this year, surrounding first-tier cities such as Guangzhou and Shenzhen have continued to relax regulatory policies, which has further squeezed the markets in surrounding cities," said Chen Xueqiang.

However, compared with free furniture and home appliances, free decoration, etc., the "buy one get one free" campaign is indeed more powerful and attractive. Li Yujia, chief researcher of the Guangdong Housing Policy Research Center, believes that promotional activities such as free property fees, group purchase discounts, and tens of thousands of discounts have become universal, that is, special offers have become universal benefits. Every company is doing this, and every home buyer can feel this discount. At this time, it is necessary to adopt a stronger preferential policy. "Buy one get one free" has a very strong eye-catching effect, which can gather traffic and visitors in a short period of time and can also convert into a part of the purchase.

It is worth noting that most of the gifts given in the "buy one get one free" promotion are apartments. Why? In the eyes of industry insiders, this can both cash out funds and sell residential properties, which is a win-win situation.

Li Yujia said that firstly, the market price of apartments has fallen sharply, and many have been discounted by 50% or even more than the initial price. Secondly, as investment demand has receded, buyers who remain in the market are more concerned about the real living experience. Apartments, which are neither fish nor fowl, have become products abandoned by the market. In addition, it has become a common phenomenon for developers to sell apartments by dumping and offering large discounts.

In addition, Li Yujia suggested that you should pay attention to the real market price of the apartment that is given away, whether it is feasible or valuable to live in it yourself or rent it out. You can't just think you have picked up a bargain because it is given away as a gift; in addition, whether the house price is intentionally raised by giving it away, the real value of the house price + the apartment, whether it is more cost-effective and more cost-effective than buying other similar and comparable residential projects in the surrounding area; whether there are defects in the supporting facilities, decoration, delivery, etc. of the apartment and the house, etc.

Beijing News reporter Duan Wenping

Editor Yang Juanjuan

Proofread by Lucy