With "buyer-funded development" the developer gets free liquidity, with no interest and no obligation to pay anything back. (Just an obligation to build something.) Obviously more profitable than having a bank take a cut for a loan.
The property is cheaper for the buyer because there are obvious risks involved for those in on the scheme at an early time. (And yes, it can be significantly cheaper, both because of the risk and due to opportunity cost while the property becomes attractive on the second-hand market.)
With "buyer-funded development" the developer gets free liquidity, with no interest and no obligation to pay anything back. (Just an obligation to build something.) Obviously more profitable than having a bank take a cut for a loan.
The property is cheaper for the buyer because there are obvious risks involved for those in on the scheme at an early time. (And yes, it can be significantly cheaper, both because of the risk and due to opportunity cost while the property becomes attractive on the second-hand market.)