Exact(10)
Some of the newer properties will be sold, and others will be rehabilitated.
The current construction craze is driven by a 95percentt weekend occupancy rate — and rates that approach 100percentt at the city's newer properties.
So far, units at the newer properties have sold mainly to Vietnamese, but Mr. Ryder said sales dynamics were beginning to shift again as the country's economy slumped.
(These incentives to buy newer properties have a flip side, Mr. Devillers explained: Sellers must pay a value-added tax on their profits).
With larger or newer properties, he said, "you could go to a nice street, but you'd be surrounded by homes worth $229,000 or so".
Since Trinity's buildings are primarily former manufacturing plants with spacious loading docks and big freight elevators, they have an advantage over some newer properties, where space is tight and freight entrances are less accessible.
Similar(50)
But new properties take years to complete.
The strategy extends to new properties, too.
The price of the new properties?
Where are these new properties going?
For new properties, however, the figure is about 75%.
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