As Banks tighten lending, apartment buyers feel the squeeze

The latest round of Reserve Bank lending limits, combined with the stricter lending policy by the main banks have reduced back the number of people able to get mortgages.

In particularly, the banks are being very strict on lending to the apartment sector.

At the same time, a number of large projects are being completed and due to be settled.

Some buyers who bought the apartment projects off the plan now may have trouble settling the purchases.

citysales

Sugartree between Nelson St and Union St has experienced some buyers who bought off the plans are now having trouble settling the property so are now hoping to sell (assign) their apartment at breakeven.

City Sales is the agent marketing these sales and if you are interested contact them at sales@citysales.co.nzSugartree

 

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