Chapter 1860: House Flipping

"100 million US dollars!"

The corners of Qu Yunzhe's mouth twitched. This was clearly extortion, but he still had to bite the bullet and admit it.

100 million US dollars, even if the Qu family was rich and powerful, would make him feel the pain for a while.

"Yes!" Yuan Wanqi nodded: "Mr. Qu, I really think it's not worth it."

Qu Yunzhe waved his hand: "100 million US dollars is 100 million US dollars. My time is very tight, so let's sign the contract today."

Yuan Wanqi was stunned. Although she had expectations in her heart that Qu Yunzhe would agree, she didn't expect it to be so straightforward.

It seems the boss's analysis was correct. Wufeng Mining's shares are very important to the Qu family.

It is even related to the Qu family's entire industrial layout, otherwise, even if his brain was flooded with water, he wouldn't take 100 million US dollars to buy Wufeng Mining's shares.

"Are you sure?"

Qu Yunzhe nodded: "Sure!"

"Alright!" Yuan Wanqi stood up: "I'll go report to headquarters and prepare the contract by the way. You also contact your legal team to come over as soon as possible."

Yuan Wanqi left the reception room, asked her secretary to prepare the contract, and then returned to her office, paging Zhou Andong again.

This time Zhou Andong returned the call very quickly: "Negotiated?"

"Negotiated." Yuan Wanqi said with great emotion: "100 million US dollars, without a moment's hesitation. It seems that Wufeng Mining's shares are really very important to the Qu family."

"Earned quite a bit this time." Zhou Andong said generously: "Give a red envelope to everyone in the team that went to Ganzhou with you, and you can decide the year-end bonus."

"No problem." Yuan Wanqi laughed: "There is one thing I want to report to you. After the Spring Festival this year, British capital such as Jardine Matheson and Swire have sold off their properties in Xiangjiang one after another.

According to common sense, this would lead to a drop in housing prices, but some house flippers used the fact that Chinese capital took over part of the sell-off to stabilize the market before the return, and fabricated rumors that mainland funds would protect the Xiangjiang housing market after the return.

Saying that the central government will purchase properties in Xiangjiang for cadres at or above the provincial level, plus other various rumors, it has almost become a national consensus that Xiangjiang housing prices will not fall after the return, no matter how high they are. It is even believed that it is stupid not to buy a house in Xiangjiang before the return.

Now, house buying and flipping are in vogue throughout Xiangjiang. It is common for financial institutions and real estate developers to work until the early hours of the morning. Some people, in order to grab a house, will even give the sales ladies gifts worth tens of thousands or even over a hundred thousand, as if it would be the end of the world if they couldn't buy a house.

In just over two months, the average price of real estate in Xiangjiang has reached over 40,000. I analyze that in the next two years, the average price of real estate in Xiangjiang will reach 80,000 to 100,000 per square meter.

Therefore, I plan to enter real estate and purchase properties. First, our Qiu Dongfang office space is already a bit crowded. After purchasing properties, we can use them ourselves, and others can be rented out."

As someone who has experienced this era once, how could he not know about such a big thing.

It's just starting now. Jardine Matheson, Hongkong Land, Swire, and the Kadoorie family are only tentatively selling off.

All the rumors now are released by them, preparing for the large-scale sell-off of core assets in their hands next year.

And who is taking over these assets? Chinese tycoons took over a part, and more are being taken over by many red chips.

This gave the people of Xiangjiang a wrong signal, thinking that the central government was instructing red chips to frantically support the market, which made Xiangjiang house flipping even crazier.

By the first half of 1997, that is, before the return, Xiangjiang's housing prices really rose to 100,000 per square meter, completely deviating from the level of economic development and residents' affordability.

Behind the huge bubble is crazy leverage. The debt ratio of Xiangjiang people is generally over 70%, and some even add up to 110%. This means that not only do they have to use more than 70% of their income to pay off mortgages, but they even have to overdraw loans to pay off mortgages.

Such serious overdraft, if there is no external support, is destined to be unsustainable. However, when the 97 financial crisis broke out, the stock market plummeted, causing Xiangjiang's wealth to suffer a heavy blow, and the legendary external force—mainland funds supporting the market—did not happen.

The result is that Xiangjiang's property market plummeted and continued to hit new lows. Many homebuyers became negative assets and were forced to auction their homes.

And Faye Wong entered the market at the highest point in 1997, spending 48 million HKD to buy a luxury mansion in Sha Tin. Eight years later, this investment was sold at half price, and still no one asked.

"Purchasing properties, okay." Zhou Andong said: "However, before the return, sell them all."

Yuan Wanqi was stunned: "Boss, do you think Xiangjiang's property market will fall after the return?"

"Whether it falls or not, no one can say for sure now." Zhou Andong said thoughtfully: "But I can tell you that the central government will definitely not take over. If Xiangjiang's housing prices really rise to 100,000 per square meter, it will completely deviate from the level of economic development and residents' affordability.

If it is really as you said, and house flipping is in vogue in Xiangjiang now, then behind this prosperity, there must be a huge bubble and crazy leverage.

Once the financial market has even a little turmoil, without external support, the bubble in Xiangjiang's property market will definitely burst."

Yuan Wanqi seemed to have been poured a basin of cold water. She was ambitious and preparing to enter the real estate field, but she was immediately extinguished.

"In that case, there is no need for us to go into the muddy waters of real estate."

"No!" Zhou Andong said: "Purchasing properties now is just right, whether it is residential, apartment, or office building, as long as you sell them before the 97 return, you will definitely make a profit."

Speaking of this, a cunning smile appeared on Zhou Andong's face. Starting from the second half of 1995, domestic red chips took over Xiangjiang properties in large numbers.

Those bastards, having circled money in the Xiangjiang stock market, had nowhere to spend it, and one by one frantically bought buildings in Xiangjiang, and in the end, they were all trapped.

He is now starting to purchase properties, and when he sells them at the highest point in 97, there will be plenty of people to take over.

Two years, as long as you hold it for two years, you can double your money, why not do it.

At this time, Zhou Andong thought of Lenovo again. It was listed in Xiangjiang in February, and it is said that the performance was quite good.

With the character of Liu Chuanzhi, Xiangjiang's property market is so hot, he will definitely enter the market.

By then, he can sell all the properties in his hands to Liu Chuanzhi.

After all, they are old friends, how can he make outsiders cheap if there are benefits?

"Boss!" Yuan Wanqi said hesitantly: "When you say this, I have no bottom in my heart. Do we really have to do this?"

Zhou Andong laughed: "Although I can't see whether Xiangjiang's property market will collapse now, before the return, it will definitely continue to rise, so you can buy it boldly.

However, buying buildings is just taking advantage of this east wind to earn some pocket money. The most important thing is Mexico, you must keep a close eye on it."