04 May 2006
The Rockwell: Slow Selling Could Lead To Price War
The Rockwell is a new sectional title apartment complex being built (follow their progress) in
Green Point De Waterkant. According to their availability page they've only sold 50 of their 103 apartments. If the people who bought pre-construction try and sell once construction is complete, the developer might drop prices to sell the remaining units and the investors will have to compete against someone with much larger margins who can afford to drop their price more and still make a profit. Could get nasty.