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1.Market Observations, 8.Was Sticky

3 Dec 2016 (AFR) – Apartment supply glut starts to bite in Brisbane and Melbourne

(3 December 2016, AFR, p3, by: Angus Grigg, Duncan Hughes , Michael Bleby)

‘Developers are being forced to offer rental guarantees and extend settlement deadlines for newly built apartments, as lending restrictions on foreign buyers and a supply glut in Melbourne and Brisbane begin to bite. In what has been described as a “managed crisis”, one Beijing-based real estate executive estimates about 10,000 Chinese buyers may struggle to complete apartment purchases.’

Read more at AFR.com.

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