Common Effect Of Caspian
There is number of private residential properties found and marketed in February 2009, in 1381 units, surpassed the previous 6 weeks (August ’08 to January ’09 saw a complete number of 1283 units sold). On July 09, we hit a record high of 2767 units sold with costs reaching ’07 amounts for mass-market properties.
Pent-up demand became the principal culprit, in efforts to describe the sudden rush to obtain newly launched land, with programmers adding plenty of fuel to a growing fire with new launches on a weekly basis.
Queues began to form a week before an expected launch and balloting was introduced by some programmers in an effort to disperse the crowd and stop risky purchases. Blank cheques were flying against all financial common sense. Caution was thrown to the end and it has grown into a mad situation of anything goes. If you have any query regarding Caspian see them all on the http://safefiberglasstank.com/.
There was a recent article in the Straits Times on 7 Evidence of the Home Craze – Let us see what this trend is all about. Two schools of thought have emerged – we have one set of people shaking heads, firmly believing that the present madness can’t be sustained and the party would finally come to an end. On the opposite end, we’ve got a very anxious group of individuals that are concerned about ballots and queues, who would shed a blank cheque without a moment’s hesitation.
Equivalent properties sitting alongside each other have cost differentials of over 20%, the only distinction is that the time of launch. The recently launched sold out at premium prices when only next door, there were considerable units left and nearly TOP’ed.
Choice of Property
Why the trend of new launches? For the price that is paid for them, there are scores of completed properties which will give increased value and instant cash flow. Yet, money has been parked into recently launched properties which would be relatively illiquid for 2-3 decades.