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kerfungle t1_ja5ds33 wrote

Reply to comment by Smoofinator in Florida city opens nature preserve after citizens helped save it by Metlman13

This is how naples is getting, nobody to fill all these apartments but they're still going up

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DatGearScorTho t1_ja5eg8w wrote

People don't have to inhabit them for them to make money, unfortunately.. this is becoming a thing in the US also. Whole apartment blocks go up and are intentionally priced so high nobody can live there because tenants get in the way

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kerfungle t1_ja5g9j0 wrote

My bad bro I was referring to naples Florida 😂

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EmbarrassedNaivety t1_ja5hvnc wrote

How do they make money off of it if there are no tenants? Sounds like it’d cost a lot of money to build and maintain something like that so I’m just curious the reasoning if they don’t intend to rent out

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ApostateX t1_ja5jr0h wrote

Not the commenter you responded to, but I think they're overstating the problem a bit. Some of these places are purely used as second homes. The owner only lives in them for a very limited part of the year, and the rest of the time they sit empty. They're also used as investment properties. Maybe a company buys them to sit on the unit(s) for several years hoping to flip and sell, or they could be foreign purchased units....

Ultimately, if you're not earning money from a commercial or residential tenant then they're not "making money" off the property . . . until it's sold. And I *think* that's the point the other commenter was making.

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