It's the standard these days, I'd rather have a developer provide the accurate numbers instead of quote a minimal number only to have it shoot up after the strata is formed and have the new purchasers have to adjust their budgets. Most new high rises with good amenties charge in the 50cent/psf range with higher end products running over 60cents/psf.
Might be in compliance with upcoming strata rules that they estimate 25 year replacement costs for anything and everything that needs to be replaced and build a contingency for that from the get go. In a couple of years, mortgage companies will not lend money without this disclosure.
Look at some of these newer condos in the suburbs charging less than 15 cents psf... they're going to be hit by new regulations the most.
I believe that the Developer is responsible for any budget shortfalls for the first calendar year after the strata council is formed.
This is normally a good incentive for the Developer to have the maintenance fees on the higher side from the beginning.
So apparently 140 units have been sold to Chinese investors at an average of $830 /sf (!). Westbank will release the rest of the units to the public in the next few months...
Sometimes I think the housing market is coming back down to earth and then I hear this...
So apparently 140 units have been sold to Chinese investors at an average of $830 /sf (!). Westbank will release the rest of the units to the public in the next few months...
Sometimes I think the housing market is coming back down to earth and then I hear this...
Vancouver's market has been based on a foreign economy(s) for some time. I guess the "hook" was the proximity to UBC.
So apparently 140 units have been sold to Chinese investors at an average of $830 /sf (!). Westbank will release the rest of the units to the public in the next few months...
Sometimes I think the housing market is coming back down to earth and then I hear this...
Well, the Hong Kong investor who originally bough my condo lost $50,000 (about 20% of the price) on it when he sold it to me (one year old never lived in) but that was back in 1994. It took at least another 7 years for the assessment to climb back to the value he bought it at - then the crazy market hit...
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"The destructive effects of automobiles are much less a cause than a symptom of our incompetence at city building" - Jane Jacobs 1961ish
Guys that figure is for the units sold so far which are the prime units. This development is also very high end with regards to it's finishings/appliances and not the normal run of the mill. Look to Telus for better priced units.
So apparently 140 units have been sold to Chinese investors at an average of $830 /sf (!). Westbank will release the rest of the units to the public in the next few months...
Sometimes I think the housing market is coming back down to earth and then I hear this...
All about location. You won't see them diving into New West or Coquitlam homes
Well, the Hong Kong investor who originally bough my condo lost $50,000 (about 20% of the price) on it when he sold it to me (one year old never lived in) but that was back in 1994. It took at least another 7 years for the assessment to climb back to the value he bought it at - then the crazy market hit...
That's why when you buy real estate, make sure you can hold long term.
"5 mins to Richmond, yvr, 10 mins to UBC and downtown"
Have fun on SW marine morning and aft kids.
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"The destructive effects of automobiles are much less a cause than a symptom of our incompetence at city building" - Jane Jacobs 1961ish
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