Completion of Building Projects
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Any idea what percentage of units would have to be sold in order for construction of a new apartment buidling to be completed? Would the developer likely finish the building if he had perhaps only 65% - 70% of the apartment sold ?
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Most developments are funded by the banks and so they should complete them regardless of how many have been sold.
Deposits are not supposed to be used to fund the development so the sales doesn't matter.
Unfortunately the market collapsed and developers went bust and so many developments will now take years to complete.
Justin
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