Via the AFR:
Real estate agents and developers are offering rental guarantees, even advertising on personal ad website Gumtree, in a bid to push sales in a slowing housing market.
Last month, Melbourne developer Growland offered a 6 per cent yield guarantee for two years on new apartments purchases at their Victoria Square project in Footscray.
Brisbane, suffering from a glut of units, is rife with 5 to 6 per cent guarantees over three to five years for properties in areas such as Wulkuraka, Logan Central and Bowen Hills.
The practice is also picking up in Sydney. On Gumtree, agents guarantee up to 5 per cent for between two to three years for apartments in Sydney fringe areas like Hurstville, Holroyd, Rockdale and Engadine.
Chinese-based agency Macland is advertising a 4 per cent guarantee over three years for Cumberland Green apartments in Rouse Hill. Buyers also go into a draw to win a new car.
