Friday, June 10, 2011

Expert doubts where the market is heading

"CBRE Brisbane residential projects managing director Paul Barrett admitted the Brisbane market was difficult, with a lack of confidence in off-the-plan purchases. ... Mr Barrett said not all proposed projects would be launched or completed and that only the best, not necessarily the most expensive, would be built. ... 'There's a lot of doubt where the market is heading.'"
(Source: Australian Financial Review, 9 June 2011, page 54.)
This does not surprise me. The pricing for off-the-plan apartments is higher than for relatively new completed apartments. Over the past years, many apartment projects where there were many pre-sales did not eventuate. I am glad I did not put a deposit down on Trilogy, Empire Square, Vision and many others.

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