Give it some time, there's definitely interest as rates are slowly coming down, they just need to cut more, as they are still too restrictive. Canada is just slow at everything and they over reacted with inflation. Canada is gonna be pretty shit the next 3 years as long as Trump is alive, so unless we partner with China more to breathe some life into the economy. We still have plenty of Mexicans Indians Arabs that we bought in that needs a place to live eventually, and you know they can't stop breeding so they will run out of space and have to upsize.

https://www.realtor.ca/real-estate/2...levard-burnaby

Even the most ignorant off-shore investor isn’t going to see value in an $800,000 6th floor condo in Brentwood.

Not to say this won’t sell, but there are hundreds of units within 3-4 blocks of this.

Who in their right mind would spend $900,000 on a 2 bed 2 bath in one of these buildings? With literally 6-8 buildings under construction right around you?

The second another new building goes up, your unit goes down in value.

The vast majority of these condo units were meant for investors; either you bought to flip or you bought to rent. Now, with supply outpacing demand and rents falling, there’s no reason whatsoever for anyone to be paying $750,000 for a 450 sq ft studio. This is what's scary, because the number of overpriced condo units on the market is truly mind-boggling.

Very valid points, however for young families purchasing their first home with a budget of 700-750k
What else can they buy?

In Vancouver, Burnaby, and richmond
750k for 700-800 sq ft seems to be the going rate

Older units would get 1000+ sq ft for 750k
However theres special levys and other issues.

Most people would be better off renting.

Previously you “got your foot in the door” on a condo to have a roof over your head and build equity. Even a couple percent a year you’d probably feel ok

It’s impossible to predict the future in R/E here however, could you honestly buy that place I posted above and have any expectation of building equity?

$800,000 for a 6th floor unit with a $448 per month strata? lol

And as I said, there are MINIMUM 6-8 more buildings to come within Brentwood.

Also don't forget to lease an Audi and get a girl pregnant at the same time

Honestly, renting looks like the smarter option right now. An $800K condo is extremely overpriced, and I don’t see much upside. Resale will be tough, and you're more likely to lose money than gain equity. You'd probably get a better return just parking that cash in the bank or investing elsewhere, with way less risk.

SFD seem to be selling still, but previous owner not making much money.

I think ground zero will be mass produced condos/townhomes in the suburbs like langley, burquitlam, king george area, south surrey.

$800K for this? :lol

Look how tiny that front room is, and unit as a whole.

https://cdn.realtor.ca/listing/TS638...2979601_10.jpg

It's utterly insane Toronto and Vancouver went down this route building these absolutely ridiculous shoebox condos.

Fucking buddy guy mismatched tile backsplash fuck that’s grosssss lol come on..

That’s gotta be a Reno no? You’ve got those massive floor planks and you end 3 seems within like 10 inches of each other? wtf lol

Well what else would you build, didn't the construction guys run the math and that literally is the cost of the build. Like $800 a sq for condo is the cost for the developer and they have to sell at $1100 sq to make it viable. And this was pre tariffs pricing.

Ok BUT, a couple of them are book-matched!!

With those prices I feel like you'd have to be operating on a verrrrry long timeline for buying a small place to get your foot in the door to actually have saved you enough to cover the realty fees for the condo. I doubt it makes sense to get a place you only plan to live in for 2-5 years like it used to.

I keep saying this to people... GO BUY FOOKING IN FORT LANGLEY & Coquitlam... it's what you can afford.

You're not suppose to be ready and afford anything in Vancouver. No you can't have concierge and a pool inside your apartment building you numb nut.
OH it looks so nice.. YOU CAN look nice if you got money.
That's why I drove a punk ass 2nd hand car vs thinking I was going to drive a Trans am.
Reality hits hard when you actually pay for shit.

https://www.zillow.com/homedetails/6...50303241_zpid/
599k 2 bedroom 1 bath 728 sq ft

https://www.zillow.com/homedetails/5...50296144_zpid/
588 1 bd 1 bath 603 sq ft...

Dats so cheap $599 for 2 bed, that's like 20 buddy guys, just charge them $500 a month each, ??? Profit

i mean these units would be perfectly fine for AirBnB...which is all that they were built for

That apartment has bad fong shui because it's where someone was shot and killed a few years ago and there's been couple of gang related shootings on this block.

There's some good deals to bad found in east and south van for apartments in the mid to late 90's. Functional floorplans and most already have fixed the issues for a building their age (e.g. repainting walls, fixing hvac, etc...)

Spend 50-80k on some interior upgrades and you have yourself a nice 2 bed apartment flat for <750k.

^^ Fraser and 42 bad fong shui tooo

Yeah buddy went to look at this one https://www.zealty.ca/mls-R2991516/3...D-Richmond-BC/

Was good until reviewing the minutes

New builds makes no difference as you dunno who the neighbors are and most likely it will be renters

can you say what about the minutes made this a no? Was it the typical, old condo with lots of repair coming and big levy fees?

Burquitlam was a ghetto and still is.

It just went from property managed lowrises to money parkers and speculators fine dining on the backs of migrants / gangbangers who now fill all these 'LuXUrY BUilDs'.

Hell, in my condo, the only time I hear English is when I'm talking to myself. Mostly Mexican labour who are probably building the new towers that are going all around (I base this on their construction attire :derp:). I don't see as many Asians anymore which is sad because this building doesn't have a 4th floor. It was MADE FOR THEM! :QQ:

I lived here for 6 years and never would I pay these prices. A unit on my floor just sold for $1000 / sq ft. Keep in mind this building is 9 years old now and was the first building to go up in the area. Imagine 9 solid years of ground pouncing all around you as new towers go up and you would still pay $1000 / sq ft.

I can't post videos but there's entire blocks of vacant houses nearby that have yet to be transformed. Researching the build names, they all hit delay after delay so it just looks like movie sets from a post-apoc film. The sites are so vacant, the banners and propsal renders have either torn off or fallen over :lol

I would get chastised for calling out these 'stir-crazy builds' 9 years ago and now people are catching on? First Galileo and now me FeelsBadMan

BTW Uptown presale started at $258k which is what they are objectively worth now. WHY THE FUCK would I want to pay over twice that with all the added fun features of increased strata, taxes and insurance pricing?

Rent & Invest. Get something better as prices fall.

Burquitlam can't be worse than Surrey

Pretty much same as most older buildings

Weak contingency fund
Special levy incoming

My dad’s side of the family is finally selling my grandparents house. East van crack shack, nearing 100 years old. My dad will probably come out with 400-500k to buy a shoebox, but I’ll probably convince him to rent and invest the capital.

I’m just glad I don’t have to deal with selling it and it’s actually getting sold by my parents generation and not passed down to like 10 of my cousins and I.