The project, which cost $3.5 billion and carried Li Yapeng’s dream of becoming a real estate tycoon, has never shown the flow of a star project, even after changing hands. Li Yapeng was accused of “debt of 40 million yuan” the origin of the case is its participation in the investment of Lijiang Snow Mountain Art Town. Li Yapeng had pinned his dream of being an artist and business ideal on this Xueshan Art Town, but it was eventually resold to Sunshine 100 due to its declining situation.
At present, the construction of Xueshan Art Town is still incomplete, and Li Yapeng’s debts involved in the town have not yet been cleared. The founder of Jingjian think tank Zhou Mingqi said in an interview with reporters, in fact, the entire domestic pure cultural tourism resort real estate projects are not very well sold, similar to the snow mountain art town loss, or even become a “ghost town” property in Lijiang and many. In 2012, Lijiang Xueshan Investment took a 27.256 hectares (about 408 acres) of land in Shuhe Street at a price of 163.5 million yuan, the land use is accommodation and catering land, the planned start Time is August 2013. In the three years from 2012 to 2015, Li Yapeng manipulation under the snow mountain art town can be described as starry. The reporter previously learned in an interview that the “Yapeng Chief”, as he is called by his staff, chose a “professional” management team to design more than 130 single-Family villas of 190 square meters to 300 square meters for Snow Mountain Art Town. In terms of price, the total price of 190 square meters of products reached 4 to 5 million yuan, while the larger models were sold to 7 million yuan to 10 million yuan.
Driven by Li Yapeng, his circle of friends Yang Kun, Zhao Wei, Hu Jun and others have bought assets in the snowy mountain art town, but not for their own residence, but to set up a “Chinese good friends club”. But from the project opened more than two years to sell more than 30 villas of the clientele, the circle of friends for Li Yapeng to buy only 7, 8 people, the rest are mostly market customers. Zhou Mingqi analysis pointed out that the remote areas of the vacation property is not the mainstream property projects, it is difficult to change hands at a premium, the base clientele is not destined to be very large. For example, in the city can buy 1 million to 2 million yuan house buyers and willing to smash 1 million to 2 million yuan in Lijiang Home buyers is certainly not a clientele, “the former is the Life just need, while the latter this money is simply they used to enjoy life.” The company’s main business is the development of a new product, a new product, which is a new product. However, the project has not sold well in recent years. According to the disclosure of Sunshine 100’s financial report, from 2018 to mid-2020, the contracted sales area of Lijiang Sunshine 100 Snow Mountain Art Town was 961 sq.m., none, and 26 sq.m. In mid-2020, the average sales price of Snow Mountain Art Town was RMB16,154/sq.m., which was comparable to the unit price when the project was initially subscribed. As of mid-2020, the completed and still unsold building area of Sunshine 100 Snow Mountain Art Town is 26,335 square meters, and the building area under development is 32,995 square meters, with the project’s expected completion date being 2022.
Zhou Mingqi finally added that most of the cultural tourism resort real estate projects are large in scale and have a large number of properties, while sales are more difficult due to the limited base of the buying group. Similar to projects like Snow Mountain Art Town, the beginning of the investment and research oversight, product positioning problems, the follow-up even revitalization is difficult, “the market there is already very surplus, the follow-up if not use professional cultural tourism thinking to optimize, it is difficult to play a role.”
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