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willx · 2012-10-02, 13:40

^ Hm, I guess it's simply not economically feasible then if you can't get project financing.

The way it works here is that developments are generally marketed intensely prior to financing and permits ever being issued and banks don't fund until the projects are ~70-80% pre-sold. That being said, property values were much lower here and developments were usually in re-zoned lands that had otherwise been neglected: http://en.wikipedia.org/wiki/CityPlace,_Toronto

I was just musing on these thoughts and was wondering how much people would pay monthly to live in ~600-700 sq. ft and have amenities like a concierge and a pool? Bring down the cost of "urban yuppie living" as it were, since even relatively poorly paid staff accountants live that lifestyle here. It could be a profitable venture depending on what the cap rates are in Japan currently.

2012-10-02, 13:40	Link #2518
willx Nyaaan~~ Join Date: Feb 2006 Age: 40	^ Hm, I guess it's simply not economically feasible then if you can't get project financing. The way it works here is that developments are generally marketed intensely prior to financing and permits ever being issued and banks don't fund until the projects are ~70-80% pre-sold. That being said, property values were much lower here and developments were usually in re-zoned lands that had otherwise been neglected: http://en.wikipedia.org/wiki/CityPlace,_Toronto I was just musing on these thoughts and was wondering how much people would pay monthly to live in ~600-700 sq. ft and have amenities like a concierge and a pool? Bring down the cost of "urban yuppie living" as it were, since even relatively poorly paid staff accountants live that lifestyle here. It could be a profitable venture depending on what the cap rates are in Japan currently.