04 January 2008

If It Won't Sell For R780 000 I'm Sure It Will For R800 000

This apartment in Century City used to be for sale for R799 000, then dropped to R780 000 and is now back up to R800 000. Hey it's a new year why not bump the price back up despite being on the market for over 5 months.

I'll bet that this is another case of a specuvestor continuing to lose money every month to cover bond payments (the place has a horrendous 2.2% ROI if you pay in cash) who has to raise the price every few months to cover these losses.

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