I have been hearing lots of contrasts in the market on how it is performing and what is performing. Up, Down, Ready, Off plan what�s hot and what�s not.
The end of last year through the first quarter of 2018 we have seen a rise in ready properties whereas off plan have dropped of by some recorded 32%. This is surprising considering that off plan projects heavily dominated the market and sales boards through 2017. Off plan during 2017 accounted for 60-70% of all sales reports Reiden. However, in the first quarter of 2018, we have witnessed a reversal where ready sales account for nearly half of the overall activity.
Most of the off plan incentives being offered by developers today were seen yesterday so nothing particularly fresh is hitting the market to entice the buyers.
It is purely a shift that we are seeing in activity moving more towards ready than off plan and although both lower than where we would like to see then we also expect a rebound in both ready and off plan where the main driver will remain the price.
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