Developer road shows - some big discounts / rebates being given

Was at a mall just this morning and there were a few developers promoting some of their projects.

Interesting thing is, this time around, they are trying to push through the remaining handful of units that they have left - usually 20 or 30 units still unsold and the project is about maybe 70% or 80% complete.

They are also giving away rather generous rebates - I didn't have much time to go through the details but the sales lady quoted me 25%! So while you'd still have to pay the 10% initially which is quite substantial too because the unit in question was at 1.4 million, you will get it back from the developer. Then you'd end with applying for a 75% margin of finance loan but that is in effect a 100% loan.

Same conundrum lo - are you truly getting a 25% discount or are you paying the true market value which is actually 75% of the quoted price?

Anyway, the situation now that buyers can take advantage of is that these projects are almost done - the risk of abandonment has drastically reduced.

So it could be a good time to see which projects that are well worth the buy but they weren't in your radar back then - could revisit and see if you can find something suitable and you wouldn't need to wait that long for it to be completed. A win-win situation actually.

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