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Once Ranked first, Dali’s House Has Been Listed for 2 Years and Can’t be Sold

As the first-generation Internet celebrity tourist city, Dali became popular in 2014 after the movie “Bright Heart” was released. The theme song of the movie was called “Go to Dali”, which sang “All the way to the west, to Dali”. With the fire of the movie, Dali also became a tourist destination that many people yearn for.

Dali, housing prices continue to fall
Dali, Shuanglang

From 2015 to 2017, in two years, the number of hotels, homestays and inns in major scenic spots such as Dali Ancient Town and Shuanglang has doubled; in 2017 alone, nearly 1,000 hotels, inns and homestays have been added in Dali Ancient Town.

“When it’s hottest, it doesn’t matter if you can’t book a room at all, even if you live in, once it’s check-out time, if you don’t check out in time, your luggage will be taken out by the staff and put at the door because new tourists are waiting.” Lemon, the owner of a homestay in the ancient city of Dali, told the “Daily Economic News” reporter.

However, affected by the pandemic in the past two years, the number of tourists in Dali has dropped sharply. “On the first day of the Qingming holiday last year, our hotel received 22 groups of customers, but on the first day of this year, there were only 4 groups.” Lemon said that compared with previous years, the price of the small holiday inn can be slightly increased. This year, “it is better to lose money.” Indeed to make money, as far as I know, some bars also offer cocktails for 1 yuan a glass, vodka for 5 yuan a glass… in order to attract customers to come into the store, and then bet they can spend something else.”

Dali, housing prices continue to fall
Dali, housing prices continue to fall
  • This situation is reflected in real estate, and the same applies.

As a tourist destination, Dali’s popularity is being surpassed by other cities. Previously, Dali attracted many people to buy a house due to its unique tourism resources. “There are really a lot of tourists living in Dali.” Wu Kui, a real estate agent in Dali’s Deyou store, told the “Daily Economic News” reporter, “There are very few other tourist cities like Dali that can attract a person to travel here, and then choose to live here.”

Migrants from other cities soared has also caused local housing prices to rise. Some netizens recalled on social platforms: “In 2016, I bought a four-bedroom set in Xiaguan, 5,000 yuan/square meter. A year later, the high-speed rail was connected, and the new houses around the market rose to 14,000 yuan/square meter. Fortunately, I Buy it early, or you really can’t afford it.”

According to the “Hurun 2019 Global House Price Index”, Dali’s housing prices rose by 20.2% in one year from 2018 to 2019, making it the city with the highest housing price increase in China and the second largest in the world.

However, house prices in Dali have continued to drop in recent years.

Kerui data shows that in 2021, the overall housing price of Dali will drop by 6.47% to 10,924 yuan / square meter. As of March this year, among the cities in Yunnan, only the provincial capitals Kunming and Dali, the average price of new commercial housing exceeds 10,000. In the first quarter of this year, the transaction volume of new houses in Dali was less than 100,000 square meters.

  • The house has been listed for two years, but it cannot be sold.

In 2018, the most popular year in Dali, Zhang Qian spent more than 1.2 million yuan to purchase a 101-square-meter property in Xiaguan.

“I just came to Dali for tourism at that time, I wanted to see the landscape here, but I didn’t expect that I was attracted and bought a suite.” Zhang Qian recalled, “Maybe because I am a northerner, I have no resistance to the landscape of Dali. In particular, there is Erhai Lake in Dali, and the humidity is very high. For me, who has lived in a dry area in the north for a long time, it is simply a fatal temptation.”

After discussing with her family, Zhang Qian, who had seen several real estate projects, bought the current suite. “The down payment is 500,000 yuan from the family, and now the monthly mortgage payment is more than 3,500 yuan.” Zhang Qian said, “At that time, Dali real estate was basically not worried about selling, in addition to being able to come and live for a few months every year, you can also use it as an investment.”

However, the house was delivered at the end of 2019, and the pandemic interrupted Zhang Qian’s dream. “After the house was delivered, we visited in July 2020 and mid-2021, and it has not been decorated yet.” It was also in 2020 that Zhang Qian decided to sell the house.

“The family still thinks that the house is too large, and the monthly mortgage pressure is a bit high, and they only go to stay for a while every year. There is no need to be too big, we want to change a house of 70 to 80 square meters.” For this, the house was listed for sale by Deyou store for 1.25 million yuan.

However, since November 2020, house prices in Dali have continued to decline, and the decline has continued to expand. As of March this year, the price of new houses in Dali fell by 5.7% year on year, and the price of second-hand houses fell by 4.7% year on year.

The listing price of Zhang Qian’s house has also continued to drop, from the initial 1.25 million yuan to the current 1.05 million yuan. “There is no way. There have been very few people asking about this house in the past two years. Now I want to sell it as soon as possible.”

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Nancy Huang
I'm a journalist in Shenzhen, China. I have been working in several news agencies in China since 2008.

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