Developers raise incentives to clear apartment glut

Tuesday 14 June 2016

The growing apartment glut has led to developers raising sales commissions and incentives to overseas agents in a bid to clear surplus stock. From The AFR:

While sales commissions to overseas agents are normally in the 5 per cent to 6 per cent range, marketing platform Investorist was last week offering commissions as high as 8 per cent and 10 per cent on projects in Melbourne and Queensland.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.