Recession means job cuts and wage cuts and in the uncertainty, no one will commit to buying unless prices are very cheap
Global outlook very uncertain. Major economies sliding downwards with knock on effects far beyond
Banks have tightened lending to between 60% and 70% in most cases and often the bank valuation is way way below the seller's asking price, so buyer either must have ready cash on hand or prices must drop another 30% to 50%
Speculators who bought on DPS panicking as TOP closes in and they may have to default if they can't secure loan
More supply coming onstream as projects completed and developers look to recover cash. Take the cue from the likes of Novelty
IR project is comatose now that Sands in financial trouble. The resort will still open but will be scaled down. The IR hype is just that - hype. Already prices of the Sail has gone from $3,000psf to maybe about $1,200psf now, will drop further
Global outlook very uncertain. Major economies sliding downwards with knock on effects far beyond
Banks have tightened lending to between 60% and 70% in most cases and often the bank valuation is way way below the seller's asking price, so buyer either must have ready cash on hand or prices must drop another 30% to 50%
Speculators who bought on DPS panicking as TOP closes in and they may have to default if they can't secure loan
More supply coming onstream as projects completed and developers look to recover cash. Take the cue from the likes of Novelty
IR project is comatose now that Sands in financial trouble. The resort will still open but will be scaled down. The IR hype is just that - hype. Already prices of the Sail has gone from $3,000psf to maybe about $1,200psf now, will drop further