Re:Barcelona will eliminate tourist apartments
by fh973 on Friday June 21, 2024 @05:03PM
(#40753783)
Building companies don't own the apartments, banks do. Lower effective prices means writing off debt.
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Re:Barcelona will eliminate tourist apartments
by distances on Friday June 21, 2024 @05:15PM
(#40753896)
Not in Finland. Each housing complex is a separate company, and when you buy an apartment you actually buy a share in the company. Until sold to the buyers, the housing company is usually owned by the construction company. Banks of course provide funding, but the construction company is the one left holding the bag if the apartments don't sell.