Presales of brand new condos in Vancouver have never been stronger, even as recent figures show a slump in real estate sales in the wake of B.C.’s new 15 per cent tax on foreign buyers. Almost all of the presale units in projects under construction downtown are spoken for and sales so far this year have broken records, according to
House sales are down, but prices are still going up. That’s the latest message from the Real Estate Board of Greater Vancouver, but some analysts suggest the board is presenting an incomplete picture of a market on the decline. The latest board report suggests the number of sales in the region fell by 26 per cent last month, compared to
Vancouver’s real-estate transfer tax for foreign buyers doesn’t appear to have slowed the market for high-end, high-rise properties. In May, the Holborn Group said it had hit a new high price for a project in Canada when it sold all 214 luxury condos at its Trump International Hotel and Tower Vancouver at an average of $1,615 per square foot —
