Re: Re: Easy resales hitting developers

#73927
Anonymous
Participant

@Michael521 wrote:

It was reported at the first AGM for my development that the developer still accounts for some 60% of the properties.

Considering that he started selling off plan in 2002 and obtained First occupation licences for completed blocks in early 2006 he must be feeling the pain of the turndown in the market and early buyers attempting to re sell at well below his current prices.

If this scenario is repeated across the CDS I can see a number of developers going under.

similar story on two developments I visited yesterday complete and about 50% remain unsold