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Old Posted Mar 12, 2019, 12:34 AM
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Bdog Bdog is offline
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Join Date: Jul 2005
Location: Winnipeg
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Quote:
Originally Posted by bomberjet View Post
dCondo is supposed to be 'luxury' condos. There are other buildings, such as Glasshouse (maybe the only other comparable), which are cheaper and have had better sales.
I think the experience of Glasshouse and D Condo show that it's going to be very tough to sell high-rise condos in Winnipeg for the foreseeable future.

Glasshouse IMO isn't the success some make it out to be. It opened in fall of 2016 and never officially sold out. At any given time, over 10% of the 200 units are up on AirBNB, and several more are being rented out monthly by their individual owners. On top of that, the units that didn't sell are being rented out by Glasshouse as furnished/unfurnished rentals. And this is one of the most affordable condo buildings on the market, not to mention the developer received almost $5 M in grants. After over a year of being completed, the developer was selling units at large discounts, like $10,000 off and up. That's not good for resale, nor is the fact that right now there are about 15 units up for sale in the building...
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