Desperate developers throw mothers in with dud apartments

Tuesday, 18 June 2019

Via the ABC:

Developers are offering special deals like paying 12 months of a buyer’s mortgage, $50,000 “bonuses” and even furniture vouchers in a bid to help clear Sydney’s apartment glut.

An oversupply of apartments, falling property prices and restrictions on foreign investors mean developers have turned to targeted social media campaigns in a bid to lure customers.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.