Sarah McKenzie

Trends reshaping condo market

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Developing housing trends could put some of the city’s largest condo projects on shakier ground as interest rates rise and the projected number of units sold fall well below last year’s levels.

The winner likely will be smaller-scale projects that have a larger pool of potential lenders from which to draw and a significantly easier time reaching the 50 percent presales mark typically required for construction financing. Although smaller projects typically carry larger association fees, buyers often are drawn to the projects because they also afford greater privacy.

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