Apocalypse...not yet

Lower residential sales – both quarterly and semi-annual – are being reported by most of the developers in this sector. Until recently, such declines only occurred sporadically, in isolated cases – and there was always some neutral explanation at hand, usually that the sales were all concentrated in another quarter due to the schedule for launching project sales. However, the current drop in sales has been affecting the majority of developers, while their PR departments, which normally spring into action in such situations, are not even trying to explain away the decline as actually some sort of increase, as they often do. Challenging for both big and small The ‘big four’ largest players, each of which have sold over 1,000 units in the last six months, have also not been immune to the decline in sales. The one exception has been Murapol, which sold 1,798 apartments in H1 (189 more than a year earlier). However, this developer includes paid reservations t