UNFINISHED APARTMENT | Property Georgia

UNFINISHED APARTMENT

UNFINISHED APARTMENT

On discussing the real estate properties, in our first article we talked about the quality of the construction because stability and reliability are the most important criteria in the selection of our apartment in the future. As we have seen, the monolithic construction provides the highest strength.  In addition, the seismic resistance increases inevitably.

In this article we would like to deal with the construction-related, somehow strange, but a real problem: The  assessment of quality will be meaningless if the construction has not been completed. This painful problem is familiar for Georgia, Tbilisi and unfortunately, most of our citizens face it. The great part of the problems still remain unsolved and neither positive prospects are visible. The unfinished constructions attract attention even in the central part of the city.

Perhaps, the saying is true that “Learning on mistakes” is very difficult. As if the lesson from the recent past life was not enough: However surprising it might seem, the interest towards the on-going building constructions still exists. As said on the professional jargon, the number of the people desiring to “ purchase the air “ remains  high.

On the one hand, the company carrying out the construction, needs to attract finances.In such cases, the best way of acquiring the mentioned funds is to obtain them from the future buyers. In contrast with loan or attracted investment, such money is free. Moreover, the company initially starts to get the planned income. It can be said that the apartment is being built by its future residents along with the company.

On the other hand, while the project is under construction, the company has the great luxury of time. It “does not hurry” too much to obtain profit from the invested money and is ready to offer its customers such attractive conditions as internal credit or in case of full payment coverage, even more profit, in the forms of discounts and future bonuses.

Let us analyze it all. If we like an apartment, as well as we do not consider it rationally and carefully, everything is so attractive that nothing remains to be analyzed. Never mind the fact how the offer is wrapped, whether the installment is interest–free or not and so on. The main thing here is the psychological factor. Indeed, what could be better than an interest-free internal credit and low price? Nothing… But only in case if everything went well. But will it be really so? We have got a very acute experience which began several years ago and the results are still actual?

At that time the processes were caused by the world crisis, before that outbreak it was too difficult to make predictions about the developments and the situation seemed as stable as it is nowadays. The decline of exchange rate threatens an essential danger to the stability of the current conditions. We should not also forget that the necessary material for the construction and the apartment prices are calculated in foreign currencies.

Here once again arises the issue of risky economy.

For the purpose of saving a few thousand dollars or purchasing a space just more than several square meters,are our total savings obtained by our labour worth putting under danger?

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