AVID Property makes a sweetened $206m offer for Villa World.

AVID Property makes a sweetened $206m, representing a share premium of 18.1% for Villa World, an Australian-based real estate developer. The offer comes at a time of significant downturn in Australia’s once booming property market. Housing prices have declined consistently since late 2017 amid tighter lending restrictions. Villa World has also been a casualty of the economic downturn with the company saying in December it would not achieve its fiscal 2019 guidance, due to deteriorating residential housing market conditions and customer sentiment.