Posted May 29, 2017, 5:40 PM
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Ex-Banker. R/E Insider
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Join Date: May 2017
Posts: 33
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Brentwood has shot up and it looks like until a wave of completions in 2021 hits the markets it will continue to rise a bit, though SOLO and higher end Amazing Brentwood (delayed) projects are going for $900/sq ft.
Fact is vacancy is low and quality tenants are having a tough time finding a good longterm home. Burnaby Metro/Brentwood rates are $1600-1800 for under 5 year old high rises which covers up to $450K in mortgage at current 2.2% var 5 year rates.
Even lower end developers like Thind is pricing Lumina at $850/ft at the lowest levels.
Disclosure:
Investor, have units in Burnaby
Also insider on developments such as Lumina Brentwood
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