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> Who buys a house before it's finished? I'd say this is the norm for most property development around the world. A developer creates a plan, people apply for
by IkmoIkmo 5y ago
> Who buys a house before it's finished?
I'd say this is the norm for most property development around the world. A developer creates a plan, people apply for it and get individual mortgages, the developer takes that money (in-fact having sold say 60% of them) and delivers within 3 years all the buildings, while selling the remaining 20% during development and the other 20% after.
- INTPenis 5y agoYes of course, it's the same here in Sweden. In fact I pass a newly developed area regularly to visit my brother. BUT the big difference is that while they're building the 3rd and 4th house, people are already moving into the 1st one. This turkish organisation built SEVEN HUNDRED houses without anyone moving in. Surely you can see how that does not add up?