Joseph Lupi, managing director, Frank Salt Real Estate Ltd, St Julians
No property crisis at Savoy Gardens
Frank Salt Real Estate wishes to refer to yesterday's back page article entitled Property Crisis Looming. Ironically, The Times chose to feature a photo of a development, Savoy Gardens, which is a prime example of the fact that property that is well finished, well designed and with rooms of the right proportions, when priced properly, sells and sells well.
There is no property crisis at Savoy Gardens with sales far exceeding projections and expectations.
The property market cannot be blamed for a mismatch between what a buyer needs and wants and what is being built.
If property is built well, designed well, at the right price, it sells well. Savoy Gardens is a clear example of this. Seventy per cent of the apartments available have in fact been sold, with a constant flow of queries for the remaining few.
Frank Salt Real Estate, through one of its directors; Douglas Salt, offers a consultancy service to developers, precisely to insure that a mismatch leading to slow sales is pre-empted at the design stage.
Editorial note
The photograph in question was used merely to embellish the write-up and also because of the threatening clouds looming above the structure and for no other reason. Any inconvenience is regretted.
4 Comments
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Alfred Baldacchino
Oct 9th 2008, 12:37
Local newspapers and magazines now and again feature untitled photographs or illustrations to embellish accompanying write ups. This can be avoided in order to give the published work a more professional presentation.
V Farrugia
Oct 9th 2008, 11:18
Well said Mr Lupi, a property which was designed well, built well, at the proper price, with decent sized rooms sell immediately. This brings to our attention those properties which have been vacant for many years, as they are deemed un-saleable. Unless the seller realises the proper price for these properties, these will remain vacant. The government can tax all the vacant properties, thereby forcing the sellers to reduce the prices until they sell.
M Vella
Oct 9th 2008, 10:44
This development enhances the Gzira living experience that provides a genuine cosmopolitant and international taste to a resident. This project has managed well all crucial aspects of a property development, especially the efficient use of space.
A. Camilleri
Oct 9th 2008, 09:33
This is a lovely place, and is being tackled very professionally. If only other places could be tackled similarly! Well done to all who are involved in this project, and the Frank Salt Group in particular.