Kaohsiung’s “fishing tycoon” is in debt! The former asking price of a luxury villa was 150 million, but the first auction price was 93 million less than the reserve price.

Kaohsiung's "fishing tycoon" is involved in a debt crisis, and his 100-million-dollar mansion is also subject to foreclosure! The elevator villa in Gushan District owned by the person in charge of several offshore fishing companies in Kaohsiung was once offered for sale at NT$150 million, but now it has entered the foreclosure market with a reserve price of NT$57 million, a difference of nearly NT$100 million from the original asking price. It will be auctioned on December 9.

According to the announcement of the Kaohsiung District Court, the luxury villa is located in Ruifeng Living District, Gushan District, with a floor area of ​​approximately 101 square meters and a floor area of ​​approximately 240.7 square meters. It is planned to have 10 bedrooms, 3 living rooms, and 8 bathrooms. It is equipped with an elevator and a garage. The first auction reserve price is 57 million yuan. This luxury villa was sold by a real estate agent in the past with an asking price of 150 million yuan, but the sale has not been completed for a period of time. Now the foreclosure price has dropped by 93 million yuan, which is equivalent to 32% off the original asking price.

It is understood that the person in charge is a well-known shipowner in the offshore fishing industry in Kaohsiung. He has been involved in the fishery industry for decades and operates a number of fishing companies. His business covers offshore fishing, ship leasing and other fields. He has certain qualifications and status in the local fishery circle. Now his 100 million yuan villa has entered the foreclosure market, attracting attention from the outside world.

The base price is in line with the market, and the high total price loan ratio is the threshold

Chen Huiyu, general manager of Transparent Housing News, said that in recent years, it has been difficult to operate the offshore fishery. International oil prices have risen, and catches have been lower than expected. Some fishing and offshore shipping companies have seen sharp declines in income and are facing financial pressure.

Chen Huiyu analyzed that based on the market conditions in the area where the luxury villa is located, the base price of the foreclosure auction is considered to be in line with the market value. However, buyers of high-priced residences are limited. Even if the base price is significantly lower than the original asking price, it will not be easy to sell it.

She said: "The loan conditions for high-priced residences with a total price of more than 40 million yuan are relatively strict. Some buyers may only be able to get a 30% loan. Based on an estimate of 57 million yuan, they will have to prepare nearly 40 million yuan in self-funded funds. Even if the price is attractive, the buyer may not have enough funds to enter the market."