Land cost has absolutely nothing to do with the price at which you're able to sell your apartment, anybody with any formal training in economics or finance, would know that. In fact, it's the other way around. Housing prices are what determine land prices. The higher you can sell your apartment, the higher land prices go because of more people like you entering the sector. Of course, the reverse is true. If house prices fall, land prices fall, especially after some late entrant morons (those who entered the business in the last 10 years) who think they understand real estate.
Cost of construction has absolutely nothing to do with the price at which you can sell. Cost of construction determines if you'll make money or lose money after you've finished construction. Price is determined by supply and demand. In short, if there are too many apartments and not enough people with cash to buy, prices drop. End of story
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