Seriously, this is ridiculous. Did these developers conduct any - TopicsExpress

Seriously, this is ridiculous. Did these developers conduct any feasibility studies on the market before dumping billions into their investments? Their rush into construction has seriously killed the market in Johor. Having a ghost city like China is the last thing we want to see happening here Perhaps those who are looking for cheap buys as their home in Johor can wait a little longer for the developers to slash price further before buying. UEM Sunrise Bhd, considered a bellwether to Iskandar, this week slashed its sales target for 2014 from RM3.2bil to RM2bil China Vanke Co, the country’s biggest developer, is offering up to US$325,000 (RM1.02bil) in discounts via e-commerce site Taobao, to entice homebuyers amid slackening demand. Sluggish sales and an oversupply in the second and third-tier Chinese cities are driving prices lower, Bloomberg reported. ...the talk among property circles is that Country Garden Holdings Co, which last year rolled out a record 9,000 high-rise units on the coastline enclave of Danga Bay, could follow suit. It is believed that about half of the condominiums in Country Garden Danga Bay remain unsold, and the Guangdong-based property giant is now looking increasingly desperate to unload its stock by either hiking discounts of dropping prices, although the exact quantum is unknown.

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