On page 3 of the Australian Financial Review on 15 December 2016 is a story titled "Big discounts to lure Chinese unit buyers." It says that property developers are discretely offering discounts on new apartments in Brisbane and elsewhere to Chinese buyers, in a sign that lending restrictions and oversupply are beginning to affect prices.
Price discounts of up to 7% are being offered on Chinese property website fang.com.
An example is given of discounts on apartments in the Brisbane One complex near South Bank. For a two bedroom apartment of 86 sqm, there is a $40,000 discount, so that the price is now $675,000. To me, that discounted price seems to be over-priced!
"The market has slowed down a lot over the past six months and recently the only deals that are moving are those with big incentives."
A real estate agent reported that a number of his clients in Shanghai had been unable to obtain finance and therefore could not settle, and so lost their deposit.
Showing posts with label brisbane one. Show all posts
Showing posts with label brisbane one. Show all posts
Friday, December 16, 2016
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