RVRA says village operators are ‘scaremongering’ over buybacks
Retirement Village Residents Association says claim from villages that buybacks will put massive strain on firms’ balance sheets is unfounded.
It is posited that operators earn just over a $1m in revenue when a $600,000 unit is resold after eight years.
The Retirement Village Residents Association says the suggestion that mandatory buyback of vacant units would cause some operators to go insolvent is nothing more than a threat by the retirement lobby.
Last week, NBR reported on the Retirement Villages Association (which represents 96% of the
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