Hello
I discovered it is not only a seller's market but the developer competes with the investors in selling the left over units at lower prices that he originally sold it and I have proof of it .
These developers, market their properties like you are buying a piece of heaven and if u don't get in now it will be higher by 25% by the end of the month, comes end of the month and u call the developer and ask him "how much premium do u think I should Put on my property?"
and you would be shocked when he tells you 5% max!!!!
then you see that he is offering units that were not sold , at lower price than you originally bought , Hence how can u put a premium when this developer is offering it at lower prices. It is like he is competing with you .
So my advice is don't believe anyone when they tell you that this developer is a prime name , don't believe them when they say , you have to make a decision instantly , for it is going higher by the minute , and always follow your own hunch .To me a good developer is the one that puts his own money on the line before putting his investors money if he really believes in his development , and would be welling to buy it back from the investors at current price if he believes that prices at completion would surge up , added to that he should not take installments periodically without putting anything on the ground, it should be pay at completion of different phases of the project .
then I could say he is an honest developer . So far we have been buying visions , or you can call them birds on the trees if any . and when you go to the site all you see is desert .
and yet you would have paid already 25-40% with nothing on the ground to show for it , so how can the property go up in the price ?
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