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Jurnalul.ro Vechiul site Old site English Version The property exchange is the anti-crisis solution for the developers

The property exchange is the anti-crisis solution for the developers

de Daniela Ivan    |    04 Mar 2009   •   00:00

The real-estate developers could become firms that sale or rent old apartments.

The financial crisis has caught many developers unprepared and they do not manage to sell any apartments, while the banks put them under pressure in order for them to pay their loans. They seem willing to change some new apartments with old ones, plus a certain amount of money, in order to be able to collect some cash to pay the banks. The sales on the residential market could be refreshed if the developers would accept an old apartment in exchange for a new one, according to the representatives of RE / MAX Bastion. The real-estate company is currently in discussions with several real estate developers to identify and implement this system for selling apartments.
"We will probably start the apartment exchange for those projects in March. In exchange for new apartments, the developers could accept an old property that would meet certain criteria, plus a cash difference that would be much easier to obtain by clients from the banks through loans", said Livia Berghiu, real estate consultant of RE / MAX Bastion. He stated that the developers should evaluate the old properties and these properties should meet certain criteria that would ensure the future sale in profitable conditions as well as their renting until that moment. The exchange would offer a deep breath to the developers, namely the possibility to obtain necessary liquidity to pay their loans, so the possibility to meet the sales targets imposed by the financing contracts.

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