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Last time in a similar market downturn the developers went to...

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crawlingcrabs

214 Posts.

36

17/07/18

22:51

Post #: 34406877
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Originally posted by Starline ↑

Luckily most apartment purchases are by Chinese and many seem to believe they simply don't care about having an empty property,the over price they paid or the poor return on investment.They are all happy because property never goes down,it's a long term investment they will never sell and there will always be demand for property.

I guess with all that concern about being in a housing shortage the properties sitting empty is only ever increasing.
To be fair some new properties are also sitting idle waiting to be sold but in the meantime the developer puts them on the rental market as it's losing them money just sitting idle.

I had been looking around and the rental money they are asking for in many new developments is crazy and such poor value.Some areas with high demand often around the city or good location are usually ok but it still takes time to fill up a new block.Developers will not drop the rent as that can effect all the others so they just sit there.

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Last time in a similar market downturn the developers went to the wall. The Chinese will panic sell if the market drops far enough below their pain threshold.
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