Zhuhai's first crowd-funded housing unit Times King City (Zhuhai) was successfully auctioned on October 31. The opening bid for the housing unit of Times King City (Zhuhai), whose original price was RMB 730,000, was RMB 484,000. It was sold at the price of RMB 570,000, with the premium being RMB 130,000 and the premium rate being 25.7%. The netizens who participated in the crowd-funding will get RMB 700 in return at most.

Auction Concludes with a Bid of RMB 570,000 Made in the Last Six Seconds

The auction started at 10:00 in the morning on October 30 and lasted for two hours. At the beginning of the auction, the netizens were hesitant, but then the pace of bidding suddenly increased and there was a new bid nearly every 15 seconds. In less than 30 minutes, the highest offer reached RMB 500,000. In the end, a bidder whose family name is Wang bid within the last six seconds and got the housing unit with an offer of RMB 570,000.

By the end of the auction, according to the latest data on the auction page, it was confirmed that there were 202 groups of home purchasers participating in the auction, 4,732 comments on the event and 170,250 persons following the event. Many netizens said it was the first time that they had participated in such a real estate crowd-funding activity, but the bidding was so quick that they had no time to think about anything and missed good opportunities due to hesitation. The netizens also expressed their admiration for Mr. Wang, who got the housing unit of Times King City (Zhuhai): "He was very patient to wait until the last six seconds."

High Premium: Zhuhai's First Crowd-Funding Lives up to Expectations

Upon the launch of Zhuhai's first real estate crowd-funding project on October 16, the event drew wide attention throughout society. On October 22, the Zhuhai branch of Times Property, in cooperation with SouFun, launched Zhuhai's first real estate crowd-funding project: Times King City (Zhuhai). Only 144 seconds after the crowd-funding channel was opened, RMB 440,000, the target of the crowd-funding project, was raised. According to the backstage data of the SouFun website, more than 5,000 netizens competed for the qualification to participate in the crowd-funding project, and in the end 186 persons won. Many people are more eager to know the result of the auction held today.

From the perspective of data, this time the premium of the subject housing unit of Times King City (Zhuhai) in real estate crowd-funding was RMB 130,000 with the premium rate of 25.7%, which shows the high premium of the housing unit of Times King City (Zhuhai) in the auction. Additionally, the high quality of the crowd-funded housing unit was an important factor in the success of the crowd-funding and auction. A Mr. Chen, who participated in the crowd-funding, said he had participated several times before but never an auction. He participated in this crowd-funding mainly because he thought the housing units of Times King City (Zhuhai) have great potential for appreciation due to their high quality.