Posted May 26, 2021, 10:46 AM
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Join Date: Nov 2018
Posts: 247
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Another factor is that most developers in the city have generally stuck to building apartments as opposed to condominium buildings. There isn’t enough of an incentive to build quality buildings that will entice someone to buy.
The only potential buyer for these types of building is a REIT or and insurance company that places greater weight on the efficiency of the building, units and overall potential to generate profit.
Hopefully, a result of the current demand on housing, will be a resumption of Halifax’s condo market. I’ve noticed that the resale of existing condos is following the same path has housing. Quick purchase for over-asking. And new condo developments are finally selling.
Developers of condo buildings will choose to build better looking buildings to attract purchasers.
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