Based in Melbourne, Caydon offered discounts on 100 apartments across its portfolio, including $100,000 off three-bedroom Cremorne apartments which sell for around $1.24 million, reports Property Observer.
Was it a clever ploy to get unit sales moving in the slowing Melbourne market? Caydon says no.
But when unit markets slow, it’s not uncommon for developers to get creative to compete for buyers.
Earlier this year the Australian Financial Review reported on a swag of incentives some developers were offering to lure buyers.
These included luxury fixtures, part payment of stamp duty, cash rebates and interest on deposits.
Some developers were even doing deals to join multiple apartments or entire floors when selling off the plan.
So if you’re looking to buy off the plan in a slowing market, it might be worth getting creative and shopping around to see what incentives and offers you can swing your way.