Will investors buy into gifted homes?

by CREW20 Feb 2014

Being socially responsible and gifting those less fortunate has become more important for many people, but will the opportunity to gift a free home as part of a deal tickle investor interest?

Two Vancouver-based real estate gurus believe it will and are reaching out to developers to achieve their aim of providing 30,000 homes to people living in the Third World by 2020.

Under this scheme, property developers contribute $2,900 from the sale of each condo towards the new World Housing program, the brainchild of Sid Landolt and Peter Dupuis.Homebuyers will be able to follow the development of the home they helped create after their purchase.

Speaking to CREW, Shawn Maher from GS Maher Property Holdings, says this offering will depend on the lifestyle of individual investors. “For some, it will not matter with price and location naturally being the prime factors,” he says. “However, for others, if they have to choose between two projects and one can make a difference to others, I think there will be a lot of interest.”

Maher says this move should help eradicate the image of developers as greedy. “I think we will see a lot of developers come on board for this project. Many perceive developers as greedy but those who are in a position to help others less fortunate, do want to do something.”

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