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Many cities around the world sell condos only after they’re built. This developer says Toronto needs to do the same

Beaucoup de villes ne vendent des condos qu'une fois construits : ce développeur pense que Toronto devrait faire de même

thestar.com May 12, 2025 6 min read
Thestar
Many cities around the world sell condos only after they’re built. This developer says Toronto needs to do the same
AI Article Summary

Pouyan Safapour, president of Devron Developments, advocates for Toronto to adopt a financing model for condo projects similar to New York City, where units are sold only after construction is completed. This approach aims to enhance quality and align supply with end-user demand, avoiding speculative buying. However, this model also carries risks related to economic fluctuations and requires strategic planning by developers and lenders. Proponents argue it would lead to better housing quality and benefit the broader real estate ecosystem.