Developers hit by triple whammy as apartment projects fall over
Loans are having to be repaid before the banks have the funds for more lending.
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Property insiders are predicting more Auckland apartment developments will fall over in the next year after more than 30 were scrapped in the past two years.
Developers are being hit with a triple whammy – limited bank funding, rising construction costs and resource consent holdups while
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Sally Lindsay
Fri, 14 Oct 2016
Fri, 14 Oct 2016
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Developers hit by triple whammy as apartment projects fall over
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