WITH THE apartment market still in the doldrums, estate agents seem to be getting different messages from developers when it comes to trying to complete sales already agreed.
With buyers ever more reluctant to pay pre-bust prices for apartments now reaching completion, agents are having to deal with each case on its merits. Some developers are insisting on getting the original price even if it means going to court. In some cases, these instructions are coming directly from the bankers who are heavily exposed.
In other instances, builders are prepared to discount prices to get the units sold, with cuts of up to €100,000 the norm. The different approaches are all being tried in Sandyford where there are several hundred apartments overhanging the market, and more to come as buildings slowly reach completion. In the long run the builders have to find buyers, and so a bargain basement clearout of units is undoubtedly on the cards.
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