BUYERS MARKET - Gold Coast Apartments
The number of New Apartments “For Sale” and the number of Pre-existing second hand apartments “For Sale” are escalating.
Unfortunately the buyer inquiry for new and used apartments is in decline and there is no relief in sight.
The downturn in the property market on the Gold Coast is one of the worst on record according to “all honest and realistic” real estate agents, financial institutions, conveyancing companies and law firms who are reporting a massive down turn in business right across the board.
Sales rates in “Brand New” apartments on the Gold Coast are expected to increase in the coming months based on the fact that Receivers in Possession of Liquidated Developments are prepared to sacrifice apartments before things worsen.
There are a large number of Apartment Developments in the hands of Receivers on the Gold Coast.
Receivers who are in control of the Bankrupt Developers Apartment Buildings are slashing the prices of most complexes to try and recoup lost funds in the present real estate crash.
Of course this is not good news for sellers and very sad in many cases, but where you find sad, you will also find happy, and buyers are very happy people at the moment as they can pick up absolutely beautiful nest eggs at a very good price.
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