September 25, 2023 September 2023 Trending Topic: Breaking Down Burnaby's Pre-sale Market Boom
In this month's Trending Topic, Brittany Reimer and Suzana Goncalves discuss the hottest upcoming submarket in Metro Vancouver. Over the past year, most major submarkets have had limited launch activity due to various factors, including market depth, construction costs, and price appreciation challenges. However, the Burnaby market is expected to become very active this Fall with six concrete towers set to come to market, including projects like Reign by Wesgroup, Solhouse 6035 by Bosa, Greenhouse by Concord Pacific, Icon at Southgate Village by Ledmac, Riviera on the Park by Ledmac, and Citizen by Anthem.
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These projects collectively offer nearly 1,800 units, although not all may hit the market this Fall, as smaller developers may wait to gauge market depth. The competition is expected to benefit all projects, but developers will need to differentiate their offerings and pricing strategies to succeed. The discussion also highlights specific details about two projects and factors influencing their pricing. The success of these programs will depend on various factors, including the overall market sentiment and developer reputation. The episode closes with the promise of a detailed update in the next month's video.
- Intro (0:00)
- A Very Busy Season (0:56)
- The South Building at Reign by Wesgroup & Solhouse 6035 by Bosa (2:52)
- Market Insights (4:17)
- Final Thoughts (6:04)
ADDITIONAL LINKS FOR THIS EPISODE:
- September 2023 Greater Vancouver Pre-Sale Pulse Episode
- September 2023 Fraser Valley Pre-Sale Pulse Episode
- September 2023 Pre-Sale Pulse Report
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- Contact Advisory