[Burnaby] The Amazing Brentwood | 15 Towers | 186m | 56 flrs | U/C & Proposed

[whatnext]

Hopefully nobody here will get burned on these, like Miami in 2007:

...Fast forward twelve years and we’ve arrived in Vancouver. New annual home completions just reached a record high, dumping just a shade under 25,000 units onto the market at the end of 2018. The much needed supply is perhaps a blessing and a curse, providing a relief to home prices but cornering speculators who have bet on rising prices.

Per the official MLS benchmark price, condo prices in Greater Vancouver have slid 6% since the month of June, an unprecedented decline following years of double digit price inflation.

Research from MLA Canada, a Real Estate advisory service working alongside developers suggests investor demand has largely dominated the pre-sale condo scene. Measuring pre-sale buyer activity in the Burnaby area of Brentwood and Metrotown, real estate investors made up 67% of all purchases in 2018, up from just 11% in 2012...(bold mine)

https://vancitycondoguide.com/shades-of-miami-2007/