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Hope everyone had a great new years and holidays. Back to the grind! (have been for 2 weeks LOL)
Despite market slowing down new project pricing has not adjusted down. Some incentives and closing bonuses are being granted I suppose.
Assignments - I'm starting to see Sussex, Polygon projects, and even some even-priced assignment transfers. This means buyers simply want their money OUT. Good deals for buyers - essentially buying at 2 year's ago prices! Vittorio, Trafalgar, Sussex (metrotown) - some of these were impossible to get back in 2017!
Burnaby
Metrotown Maywood on Park - Intracorp's parkside (Maywood) building. 30% sold since Nov - well priced but still $1050+/ft. Personally I like Intracorp's style and their buildings have done well. they tend to be more budget but still give consumers a lot for their money.
Coquitlam
SOCO
Anthem's next big community 4+ towers - imagine another Metrotown station square in Coquitlam - that's their plan. Near Hensley (another presale) area.
Meridian
Townline's new project on Cottonwood / along Evergreen line. Coming March 2019. $900/ft in line with area. Not a fan it's neither in Burquitlam nor Lougheed Mall. Given Townline's image should still do ok.
Surrey
Lots of action coming here be prepared!
University District BOSA 2
I like this one - well priced, big developer's smaller boutique group (Bluesky Properties) - near existing BOSA Alumni center, you'll get a lot of brand recognition and consistent quality. At $800/ft this is a value versus One Central and other lower price tag units but actually more expensive!
Park George
Tower 1 was a great deal late 2018 - this Tower 2 will not be too different. Despite slower market - Concord projects command a premium and Asian buyers local and internationally will gobble it up!
GeorgeTOWN
Can this get more confusing? Anthem's big 8+ tower project masterplan is coming. GEORGE Town. Price TBA - just confusing given Park George by Concord is on their Tower2.
Brentwood
Gilmore Place 2
3% bonus + other negotiations possible. Good deals to be had - ONNI and 300k ft of amenities space + retail downstairs. IMO still better buy than SOLO.
Tower 1/3 is 80%+ sold which is 400+ units. Tower 2 slower but nicest so far, around 40%. $1000/ft to start.
SOLO District 3
SOLD OUT! waiting for SOLO 4. Have to hand it to Appia BOSA - they sell out fast!
AKIMBO
10% discount on price and quality small time developer IMANI got it off to an ok start. Funny position for showroom near Purolater along Brentwood Lougheed though. 30% sold?
Any questions on presales/assignments let me know!
Jan 2019 government will be monitoring assignment profits more carefully. Remember to report your gains!
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