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new build reduction
apuleius
Posts: 95 Forumite
What kind of percentage reduction could one look for in a new build apartment in London?
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Comments
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What kind of percentage reduction could one look for in a new build apartment in London?
This has to be looked at on a case by case basis. Clearly some builders are more reasonable than others. However, city centre new builds reselling in the auction market are generally being sold at discounts of between 25-50% of the original price.0 -
I dont know about prices where you are but..
We had a new build company ring us in the last week. We had expressed interest in a development of 20 luxury houses near the lake district. The last few have now been completed. We had steered clear as they were £275k + £10k for conservatory and i thought overpriced compared to older properties in the area.
Anyway.. they said they were open to offers £250k + £10k conservatory was mentioned for the plot in prime position (no neighbours infront or behind, just open greenbelt land and amazing views).
When we enquired about this particular plot in January 2007 we were told it would be at least £300k plus all the extra costs because its position is the best.
Builders must be getting very worried. Theyve gone from no offers accepted to touting for business.:jProud mummy to a beautiful baby girl born 22/12/11 :j0 -
However, city centre new builds reselling in the auction market are generally being sold at discounts of between 25-50% of the original price.
New builds in London city centre 50% of the original price !?? Are you sure, that wasn't Leeds, Manchester or B'ham ?All my life my mother told me the storm was coming (c) Terminator 30 -
I rang a couple of developers this morning: seems like they do not want to negotiate at all!0
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I cover several new builds with property-bee and the only major developer I have seen reduce their headline price is McCarthy & Stone.
P.S. A Berkeley Homes development has unsold units that have been completed for a year!0
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