New innovative finance options from developers

From The Edge:

Developers, hit by fallen sales, are scrambling to roll out new and innovative financing packages to move units, especially those already launched but not sold.

Sime Darby Property Bhd will up its ante on the competition with the offer of yet another round of attractive schemes under its third Parade of Homes campaign to be launched in conjunction with its participation at the three-day Malaysia Property Expo (MAPEX) beginning on March 6.

In addition to a “guarantee buy back” scheme, first introduced and for a limited period under its second Parade of Homes held last year, Sime Darby Property is going further this time round with the offer of a “special down payment scheme”.

Under the “guarantee buy back” scheme, the developer will buy back properties bought at 95% of its cost with no questions asked. The scheme will go on till June 15 this year, managing director Datuk Tunku Putra Badlishah tells The Edge Financial Daily.

The usual remedy for low sales is discounts. Lets see those prices drop!