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Originally Posted by the urban politician
^. Right, but the Spire was being developed by a tiny nobody, at the cusp of a worldwide mortgage meltdown. It also didn't include a hotel, which this will, which certainly diversifies the asset.
I agree that it seems that sales have hit a plateau, unless I'm missing something. But with the above factors and the team behind the project, I think we are far less likely to have a repeat of the Spire situation. Also, as the tower rises and we actually see the building become a reality, that will likely spur more sales. That's got to be what the development team is thinking.
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Not sure what's giving you and Louis the impression that sales have "flatlined" after hitting "20-25%." The May 31 figures (
http://www.scmp.com/property/hong-kong-c...joint-venture-luxury-residential-project) stated that "about 80 units" were under contract.
This July 13 article (
http://www.chicagotribune.com/business/ct-wanda-vista-tower-sales-0714-biz-20160713-story.html) states that 110 are under contract. A difference of 30 units... The sales center has only been open since April, so if you assume an average of about 27 units going under contract per month (over four months), then the pace is staying pretty steady.
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