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Old 28-04-2008, 07:18 PM
Golfingworld Golfingworld is offline
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Join Date: Jul 2007
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Dotty, I agree with you I have seen developments that are clearly at a standstill but what you have to consider is how the sellers react. You have to remember that all these developments are there as investment properties and many are not for actual residence..they are speculative. Consequently, the Agents, Developers and Sellers have spent the last 10 years or so being used to telling buyers "buy now or the price will have risen next week" and "as we have risen the prices for this phase, it shows how all of you have or will make money". But this theory has suddenly ground to a halt and they are now in new territory..buyers have dried up, developers are running out of money to fund their plans and Agents are desparately trying to convine us that things are not as bad as people say. That's why the comments from Agents never say.." yes you are right mate, prices are dropping, construction is not moving as fast as we said and the money we said you would make is now far less". The Offplan concept doesn't work in a declining market as it is cheaper to buy next year than to specualte on future profits..those not yet in should stay out, those in should decide if it is better to take a hit on their deposit than to throw bad money afer worse. These are the key points to consider. But, you are right I have been watching natal for 18 months now and it is not moving forward and properties are in a slowdown..no doubt about it.
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