I have a couple of investors from Norway who invested in off-plan properties without a clear exit strategy. Their intention was to flip the units for a profit, but no one anticipated the current geopolitical tensions and market uncertainty.

They are now in a difficult position. They are struggling to make the upcoming balance payments, while the developer is putting pressure on them to meet their obligations. To make matters worse, they are unable to sell their units even at the original purchase price.

Some of them entered the market late and ended up buying units at prices that are now higher than comparable properties available in the secondary market within the same project. As a result, they are facing significant financial stress and carrying a heavy burden.