“Put a deposit down on a new Australian property, and if the market drops we'll give you a discount to reflect the drop.”
Hong Kong, 21 October, 2020:
That's the offer from International Property Marketing Group, Citylife. The program's name: "SAFE BUY".
It is an interesting concept.
An Agent is tapping into uncertainty with an offer too good to miss for genuine buyers.
The “cash rebate if the value drops” offer is the idea of an Australian property agent named Michael Bentley.
Mr. Bentley is the founder and Managing Director of the Citylife Group, an Asian based Australian property marketing agent. Mr Bentley has been successfully marketing property in Australia to Asian based investors for the past 30 years, and over the past few months his company had many people keen to buy, but found many were still sitting on cash watching and waiting becuase of worries over Covid 19 and future property values.
Then Mr. Bentley had a big idea.
He was having lunch with a good friend and business associate, and they were discussing that he was getting a huge number of new enquiries from all around the world for Australian property, as people turned away from other international property markets, and were looking for a safe haven.
However, he was saying that many people who wanted to buy were sitting on their hands, and just could not make a decision, primarily due to worry about making the "wrong decision" and worrying that Australian property values a year down the track would be less than what they had contracted to buy at.
Mr. Bentley’s friend mentioned that he had seen a car company offering a take back scheme during the GFC, and a light bulb went off.
This was exactly the reassurance people needed to buy property!
An arrangement was then made that saw Citylife offer the Safe Buy program on selected projects in Australia offered by the Company.
"The Safe Buy simply helps confidence," Mr. Bentley says.
People hesitate to buy a new property for one of several reasons, Mr. Bentley says: The unwillingness to take on more debt, and worry about the world situation and possibly falling prices being the main ones.
"The SAFE BUY answers this," he says. "We're giving people confidence to make their move now.”
"It doesn't matter what the long term prospects are, if the property market drops by 10% after you sign on the dotted line, you are going to be in trouble."
But through it's SAFE BUY program, Citylife pledges to give a cash rebate on the purchasers contract price if within 12 months of committing to an off the plan property the value drops. The offer is available now on Citylife's selected "safe-buy" projects around Australia.
Citylife Offers Investors a ONE-OF-A-KIND property SAFE BUY: Australia's only Buyer Protection Plan.
HONG KONG, OCTOBER 1, 2020– The Citylife Group announced today a new programme to offer investor’s a unique financial protection plan when buying off the plan in Australia called the “CITYLIFE SAFE BUY PLAN.”
Beginning today, Citylife will offer a price rebate program provided on selected new property purchased off the plan in it's carefully selected Australian projects.
The SAFE BUY Program is available exclusively to Citylife's overseas investors. “In these times, we are looking for ways to reassure our overseas investors that Australian Property still represents an outstanding and safe long term investment opportunity, especially with the low Aussie dollar and low interest rates ” said Michael Bentley, Managing Director of the Citylife Group.
“Our new programme allows us to offer a unique form of financial protection for overseas investors if they worry about dropping prices after making a commitment, and gives them the confidence to buy now.”
The SAFE BUY Program, the first of its kind for an Australian property agent, will be offered exclusively to overseas buyers in selected projects. If the market values fall for whatever reason, buyers are guaranteed a reduction in their final purchase price equating to the agreed in advance percentage fall. If prices rise, the purchaser only has to pay the originally agreed price.
“This is as good as it gets for overseas buyers,” said Mr. Bentley. “With Australia ranking among the world’s top three countries for property investment, there really is no reason now for people to wait.”
The program is available to any overseas investor registered with Citylife and is complimentary. Some conditions apply. Not available to Australian residents.