Property News · November 14, 2018

Developers use tenders to their advantage as they seek to control falling property prices


The recent spike in the number of relatively cheap flats offered through tender is a clever strategy by builders as it helps them to achieve higher prices without harming the reputation of their project in the event of poor sales and also prevents them from openly cutting prices, say market observers.
Figures from the Sales of First-hand Residential Properties Authority show that the proportion of new homes put out for tender has risen to 15.6 per cent from 220 in September to 346 in October….

Source : South China Morning Post
Read more…Developers use tenders to their advantage as they seek to control falling property prices

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