ᐅ Revised Construction Planning for Condominium Projects

Hello

We want to buy a condominium. Now, in the second draft plan, two changes were made that bother us, which we were only informed about with the new floor plans. First, the terrace is smaller (about 30% less). Doesn’t that actually reduce the purchase price? After all, we have less stated living area?

How is it with the building permit / planning permission phase? Can things be changed easily at that stage? Are we basically buying a pig in a poke?

I don’t see why the price per square meter (sqm) would have to change as well. The price is determined by supply and demand, not necessarily by the square footage or terrace size.

lastdrop schrieb:
I don’t see why the purchase price should change as well. The price is determined by supply and demand, not necessarily by square meters or terrace size.

That’s true. If you don’t buy it, someone else will.

Preliminary design? Approval process? These two terms contradict each other. An approved design that is modified often requires a formal amendment to the building permit/planning permission if the change affects the exterior (changes to the floor plan usually don’t matter). Maybe the approval process demanded a reduction of the terrace size? We do that often... smaller terraces with permeable surfaces, since otherwise the sealed area would be too large.

The price depends on your contract. If you pay per square meter of living space, it should become cheaper. However, if all costs are distributed evenly, the price per square meter will increase, meaning others would have to pay more since the total square meter area has decreased.