Australia apartment developer need an exit strategy

VIDEO: Australia’s richest man and property developers talks about the Australian apartment market.

Australian apartment developers offered an exit strategy. Mortgagee Property Ltd (HK) is offering property developers an exit strategy as the Australian housing bubble bursts.

https://mortgageeproperty.com/australian-apartment-developers-exit-strategy.html

With Chinese buyers starting to rescind on apartments, a Hong Kong based real estate marketing company specialising in Australian distressed real estate is offering property developers an exit strategy for unsold and unsettled apartments (settlement risk). The company is seeking distressed apartment stock to service a mammoth client list of bargain hunting property investors.

With warnings from the IMF, RBA, financial institutions and many respected economists such as Morgan Stanley, the Australian housing bubble is showing signs of collapsing.

http://www.theaustralian.com.au/business/property/mortgage-stress-rising-in-regions/news-story/09d542bfa190bbed050dbc87d7c2f9eb

Australia Reserve Bank warning could send some developers broke.

The Reserve Bank has repeatedly warned about risks in the current apartment market, saying the huge number of new apartment blocks approaching completion could send some developers broke and leave the banks nursing big losses.

Almost 100 “distressed” apartments in Melbourne and Brisbane have been sold through Hong Kong-based Mortgagee Property in the past three months to bargain-hunting investors for prices 20 per cent to 30 per cent lower than developers’ original valuations.

The company, founded by Australian businessman Scott Talbot after the global financial crisis, has gathered more than 100,000 interested investors around the world seeking a bargain as apartment buyers are expected to rescind contracts and developers try to clear unsold stock. “We reactivated the www.mortgageeproperty.com platform 12 months ago, to prepare for the imminent downturn of the apartment market in Australia,” Mr Talbot told The Australian, noting there was “a huge credit crunch” going on.