Toronto’s condominium developers are pulling the plug on projects with significant numbers of pre-sales as construction costs climb and home values continue to rise. Developers in Canada’s largest city are typically required to pre-sell 70 percent of a project’s units in order to financing. But construction costs have risen since many developments were penciled out. And condo prices have climbed too, meaning developers in many cases are leaving money on the table with contracts inked […]
source https://therealdeal.com/2018/04/21/toronto-developers-pulling-out-of-pre-sold-condo-projects/
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