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[China] - Condo buyers expecting a beautiful lake (as shown in advert photos) turns out to be a sheet of blue plastic on ground

UltimaOnline

Alfrescian (InfP)
Generous Asset
central-china-park-fake-03.jpg


https://mothership.sg/2019/11/china-property-fake-plastic-lake/
 

AhMeng

Alfrescian (Inf- Comp)
Asset
The home owners should be happy. Pay less maintenance fee.
Not true. In China, the title deed may say 100sqm but your unit is not 100sqm. The 100sqm includes a calculation formula whereby common spaces are added into your title deed ... Essentially, you paid for it. :biggrin:
 

JohnTan

Alfrescian (InfP)
Generous Asset
I dodged a bullet. Some of my business acquaintances were asking me to invest in condos in Shanghai and Shenzhen.
 

glockman

Old Fart
Asset
Not true. In China, the title deed may say 100sqm but your unit is not 100sqm. The 100sqm includes a calculation formula whereby common spaces are added into your title deed ... Essentially, you paid for it. :biggrin:
True, the home owners were suckered. But in the long run, they will save on maintenance fee lah. No pool to maintain!:biggrin:
 

laksaboy

Alfrescian (Inf)
Asset
True, the home owners were suckered. But in the long run, they will save on maintenance fee lah. No pool to maintain!:biggrin:

I think the maintenance fee (pool, gym, tennis courts, security, waste disposal) is paid every month regardless of whether you use the facilities.

Maybe it's different in China. :wink:
 

glockman

Old Fart
Asset
I think the maintenance fee (pool, gym, tennis courts, security, waste disposal) is paid every month regardless of whether you use the facilities.

Maybe it's different in China. :wink:
There is no pool, hence no need to pay maintenance fee for that. But Chinkland being Chinkland, they probably have to pay a maintenance fee for the view of the "pool". :biggrin:
 

Hypocrite-The

Alfrescian
Loyal
Homebuyers in China greeted by plastic lake on ground touted as ‘park views’ by developer
Close enough.
central-china-park-fake-03.jpg

Homebuyers in central China who bought new apartments in a residential development had a shock when they were handed the keys over the weekend.
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Having been sold the concept of “high vegetation cover” and “park lifestyle”, as promised by the real estate developer, the public area that awaited their discovery was in reality covered in a blue plastic material to look like a lake with a small wooden bridge.
Hunan Satellite TV’s City Channel reported the hilarious switcheroo, which was even more widely reported after South China Morning Post publicised it.
According to SCMP, the developer, Changsha Shiji Yujing Real Estate, responded that it did not ever promise an artificial lake in the estate.
The brochure only suggested a natural idyll.
central-china-park-fake.jpg

The promotional material, referring to an ancient fable, reportedly said: “The days pass slowly, as if you’ve fallen into Peach Blossom Land.”
One owner was quoted as saying upon seeing the piece of work: “So I’m supposed to be standing in the middle of blue water, which in fact doesn’t exist. There is no rock or plants.”
AdvertisementUgly block paving
Grass block paving allegedly covered a larger area.
central-china-park-fake-02.jpg

The surface, instead of grass, was covered with yellow m&d and turf that no longer looked alive.
A new resident said of the poor impression such aesthetics convey: “They’re usually used for driveways or car parks.”
“But this is not the car park area. It’s the open area right outside each building gate, and they call it vegetation.”
The real estate developer staff member rationalised the features by saying that the grass block paving was built satisfactorily — according to government standards.
“We did so because we need to take into account both fire safety requirements and landscaping needs,” the employee reportedly said.
The company is meeting with representatives of the owners and would work with fire and urban planning departments to solve the issues, the report said.
This phenomenon of largely getting things about right is called “chabuduo” in China.
It has been documented extensively before.
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eatshitndie

Alfrescian (Inf)
Asset
If you have invested around 2005, you would have made millions by now. Especially in Shanghai.
can make profit but can’t take out the money. that’s exactly what happens to my friend. bought a big house in shaghai when he was posted there as a sexpat. now it’s worth many times more than what he paid. he sold it early this year but the cash is stuck in a prc bank. he’s now back in u.s. and low on cash.
 

AhMeng

Alfrescian (Inf- Comp)
Asset
can make profit but can’t take out the money. that’s exactly what happens to my friend. bought a big house in shaghai when he was posted there as a sexpat. now it’s worth many times more than what he paid. he sold it early this year but the cash is stuck in a prc bank. he’s now back in u.s. and low on cash.
There are ways. Lol :biggrin:
 
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