“Originally priced at RMB 1.74 million per unit, now RMB 520,000 per unit, three-bedroom.”

“70% off final clearance, 88 units available for immediate sale.”

Recently, a real estate agent posted a video advertisement on social media claiming significant discounts on a project in Guangzhou, promoting three-bedroom units for a total price of RMB 520,000 with a down payment of just RMB 20,000, suggesting that individuals earning a monthly salary of RMB 4,500 can afford to buy a home.

A reporter from Daily Economic News learned during interviews that the Guangzhou market was still in its early stages of recovery in the first week after the Spring Festival, with marketing efforts yet to gain momentum. Data provided by Hopu Research Institute to the reporter indicated that the Hopu New Home Popularity Index stood at 55 points in the first week after the holiday, below normal levels but showing improvement compared to the week before the Spring Festival. First-time visitors accounted for 70% of the total, with these clients eager to learn more about project details for购房 decision-making and anticipating future promotional discounts.

70% Off Clearance? Not Exactly
Regarding the promotional video, the reporter contacted the designated agent as a prospective buyer. According to the agent, the project had sold over 30 units since the start of the year, with over 10,000 households already moved in. When asked about the price reduction promotion, the agent explained that the developer had other properties in different locations to sell and wanted to quickly clear out this inventory.

Upon further research, the reporter found that the project in question is Agile Green Lake Mansion in Zengcheng, Guangzhou, a large integrated community comprising high-rise apartments, villas, and commercial spaces, spanning a total land area of 714,000 square meters with a planned gross floor area of 2.05 million square meters, 86 buildings, and 17,000 units.

The project is being developed in eight phases, with currently available units ranging from 65 to 123 square meters, offering two to four bedrooms with fully furnished interiors, at an average price of approximately RMB 8,500 per square meter.

However, the reporter learned during interviews that the project had not undergone the drastic 70% off clearance sale as advertised by the agent.

A management-level executive from a major real estate brokerage platform in Guangzhou told the reporter that the project had been gradually reducing prices over the past two to three years, rather than slashing them all at once.

The executive shared marketing materials for ongoing promotions at the project, which included multiple 68-square-meter units originally priced at around RMB 640,000, now discounted to RMB 560,000, with a free property parking space for limited-time purchases.