Glut of supply there. There won't be enough demand to absorb the sharp rise in supply. Country Garden Danga Bay project had impressive take up of 6000+ units out of 9000 units when it was launched. But the take up today after one year still remain largely unchanged. Given several thousands of units coming into the market soon, how many foreign investors they can really bring in. Even they manage to secure large number of foreign buyers, they are mostly investors. How many units will be rented out. It may end out to be a quiet / dead town, though this is not what I wish to see.

Good news? Why so?

I don't think sold out less than 30% is true. But what happen is that banks set quota on each project and if banks started to reject loan it could be quota max already besides other issues (credit profile of borrower, bank start tightening their risk appetite etc)