Appreciate the detailed breakdown! 🧐 I’ve got a question: 🤨 I have these words 🤨. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How do I use this? 🤨
This sudden shift to purpose built rentals must account for much of the recent decline in rent prices. We have a building or two like that here in Royal Bay too. I wonder if their plan is to convert them back to private sale condos in a few years when the market might be stronger, or does the government limit them from doing that? Who is holding the condos as rentals - is it the developer or institutional investor groups like REITS?
Some of these projects have covenants and other restrictions placed on them prevent conversion; however, even the ones without restrictions are typically very difficult to convert down the road because the building code changes whenever converted to a strata the entire building has to be brought up to the new building code.
I work out in the valley and langley mid rise condos appear to be in line with resale market prices, good absorption rates and lower risk being more boutique builds (60-90 units) Surrey Central, Brentwood and Vancouver seem to offer a much higher risk especially with the long timetables of high rise towers.
Most of the new mid-rise wood frames here are now purpose built rentals, very few pre-sales. What sort of deposits are developers asking for in your area? 15 to 20%?
@@JurasPresentations a lot are 10% if they are wood frame, still 15-20 on high rises. Seeing a lot of 10% deposit with a 2 year completion which seems like the most favourable option
Appreciate the detailed breakdown! 🧐 I’ve got a question: 🤨 I have these words 🤨. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How do I use this? 🤨
Where did you get them
This sudden shift to purpose built rentals must account for much of the recent decline in rent prices. We have a building or two like that here in Royal Bay too. I wonder if their plan is to convert them back to private sale condos in a few years when the market might be stronger, or does the government limit them from doing that? Who is holding the condos as rentals - is it the developer or institutional investor groups like REITS?
Some of these projects have covenants and other restrictions placed on them prevent conversion; however, even the ones without restrictions are typically very difficult to convert down the road because the building code changes whenever converted to a strata the entire building has to be brought up to the new building code.
I work out in the valley and langley mid rise condos appear to be in line with resale market prices, good absorption rates and lower risk being more boutique builds (60-90 units)
Surrey Central, Brentwood and Vancouver seem to offer a much higher risk especially with the long timetables of high rise towers.
Most of the new mid-rise wood frames here are now purpose built rentals, very few pre-sales. What sort of deposits are developers asking for in your area? 15 to 20%?
@@JurasPresentations a lot are 10% if they are wood frame, still 15-20 on high rises. Seeing a lot of 10% deposit with a 2 year completion which seems like the most favourable option