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Canadian developers start building only after getting high sales

Work began on 79 per cent of condo buildings only after developers pre-sold at least 70 per cent of the units, the Canada Mortgage & Housing Corp has said in a report .


DEVELOPERS now are making sure that they reach a higher level of sales before they begin construction on Toronto condominium projects, contrary to the housing bubble that unfolded in the city in the 1980s, Canada Mortgage & Housing Corp (CMHC) said.

Work began on 79 per