1.5 years after launch, only one-third of new build apartments have been sold

Why do you consider the location more than mediocre? I was there recently and sure, the residential area doesn’t look particularly nice now, but the location itself is great: forest, kindergarten, supermarket, S-Bahn, city center, swimming pool... all within walking distance.

In my assessment, it is a typical "out-of-town investor" project, owner-occupiers will be in the minority there. Worst case, you sit alone with the property manager at the meeting, who represents all other co-owners.

Are both buildings being built at the same time and are apartments being sold in both buildings? That would be unusual, because a phased implementation has advantages for all (buyers, sellers, including craftsmen)

No, with block perimeter projects it is actually the rule.

If the apartments are scattered, there is probably no risk that an investor steps in.

Clarifying that would go too far here.

If someone buys 3-4 apartments, he is no danger to the owners' association

You are welcome to explain that in more detail.

There are also more houses planned (on other plots), but there are no apartments for sale there yet.

Perhaps you just don’t see them because they have different sales channels.

Since I just posted here (quote: "it’s like that with us too with the few sold units"), I also wanted to mention that we were (surprisingly for us) informed today that our developer has filed for insolvency. (Tecklenburg)

More on that right there.

By the way, I have decided against the purchase. The carrier Bonava seems to have serious financial problems, so it is too risky for me.

I would probably not invest money in a merely planned project in the current situation either. The risk is personally too great for me at the moment. You have seen in the media how quickly even large investors become insolvent.

I have, by the way, refrained from buying.

That seems both understandable and reasonable to me; moreover, I am glad that you do not make this decision quietly but share it with the community.

The carrier Bonava seems to have serious financial problems, so that is too risky for me.

That is apparently currently the "normal state" of the industry, being at least close to insolvency. Otherwise, I imagine I already replied to this at 9:52 AM this morning:

I just bought from Bonava. I can't imagine that an insolvency is imminent there. The restructuring mainly affects their own craftsmen. Outsourcing is now cheaper there. However, I had the contract include that I can terminate the manufacturing obligation according to § 648a of the German Building Code. At least some security in the event of a possible insolvency. Currently, you probably can't buy risk-free anywhere. I still prefer a market leader like Bonava.

Currently, you probably can't buy anywhere without risk. I still prefer a market leader like Bonava.

Nothing boasts louder than a market leader. I was just approached by a headhunter; the insolvency sector urgently needs workers. Buyers of condominiums also face other insolvency risks besides delayed completion or unfinished construction. To whom an insolvency administrator sells off the "remaining" apartments is also part of the risks!