Investing In an Urban Renewal Project? Here’s What You Need to Know - A Complete Buyer’s Guide
Purchasing an apartment in an urban renewal project is a major decision, especially when dealing with complex projects that may take several years to complete. Eli Bar, CEO of Eco City, offers several key criteria that can significantly improve your chances of making a safe and successful purchase:
The developer’s financial strength: Make sure the company is backed by major banks and has a solid, stable financial foundation.
The executing contractor: Check whether the contractor is reputable and experienced, or if it’s an unknown contractor chosen solely for submitting the lowest bid.
Objective indicators: Use independent ratings such as the Urban Renewal Index and the Dun & Bradstreet score to evaluate the company’s reliability.
Past projects: Visiting completed projects and speaking with residents can provide invaluable insight.
Buying an apartment in these kinds of projects isn’t simple, but with the right due diligence, you can move forward confidently and make a smart investment.
