The purchase of a condominium does however contain the following risks:
● The further maintenance of the building is sometimes neglected, which also lowers the value of the individual dwelling.
● If the remaining condominium units in the project do not sell well, a ghost town living situation can develop. Living as the only resident on a floor is surely not particularly pleasant.
● The temperature and noise insulation do not usually correspond to European standards. The floors of the dwellings have usually no sound-proof screens and the walls are very thin and therefore also not sound-proof. Depending on the neighbours, you should reckon with noise and disturbances.
● If the operator of the housing area owns the majority of the housing units, the danger exists that he will constantly increase the living expenses for the units.
● If the builder goes bankrupt before completion of the project, all invested costs are usually lost.