An issue long discussed with a sensible developer preparing for the worst, via the AFR:
One of the biggest apartment developers in Melbourne – Malaysia’s UEM Sunrise – is prepared for as much as a 10 per cent default rate on the settlement of apartments in its $330 million CBD tower, signalling just how difficult the market is about to get following tighter credit conditions and falling prices.
…UEM Sunrise managing director Anwar Syahrin Abdul Ajib: “Seventy per cent of our [sales] came from overseas investors.” Wayne Taylor
