Most of them are not even family-friendly and lack parking. Makes you scratch your head on who these flats are for?
Also they’re built like shit. I moved to a new build after living in an old building thinking things will be new and cause less problems. Big mistake, in a few months my apartment flooded from pipes bursting above us. It was the 2nd major pipe burst since opening.
They think their properties “value” is more important than cash in hand. They are not wrong in the sense that both land and rents are skyrocketing with no end in sight…yet.
So they figure they can wait, renting is mafan anyways and better leave the properties empty rather than not renting them for the gazillion they think they “deserve”.
And they have at least two or three more rental properties anyways.
A few years ago my Taiwanese mate’s dad died. They then found out that he had 33 properties Nobody knew about it and they’d all lived a pretty impoverished lifestyle. Very odd.
I always found it strange society praises rich people being frugal and criticizes if they live lavishly and spent money.
If you look at it from an economic standpoint, it would be much better if rich people lived lavishly and spent their money quickly. We should actually praise rich people spending money as it goes to someone else doing business and working.
Being excessively frugal is straight up hoarding behavior.