alklay
Senior Member
This building is probably overheated (and location probably has 80% to do with it) but the rest of the city is not that bad. There is a little panic though as a result of the city's new land transfer tax.
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Units across the road at Uptown are still in the $600psf range and units at Casa, X Condo or Couture are just a hop, skip and a jump away at under $500psf - too many people have bought into the hype surrounding the project rather then doing their homework on comparable projects by established builders nearby. They are taking a significant risk here if they expect prices to keep going up.
Of course. Thats what this whole project is based on. I'm sure 80% of the people who are lining up are in it to flip. Little do they know it probably won't sell over 50% with prices like they are asking. Something tells me if this thing gets built, it will be sitting half empty with panicked investors trying to get rid of them. Then the prices will come down and sell for what they actually should be selling for and at the true market value.
^ don't sales start at 6?
This ludicrous hysteria makes me believe that market is indeed overheated.
A lot of the units were pre-sold prior to this event. Bazis decided to increase prices yesterday given the line and hype around the project.
Hey Mike, how would you know that the units were presold prior to today? I guess its who you know. We mentioned on the board before the comparison to stock IPO's. The general public never seems to get these deals on the ground floor. It is scary.
This line-up thing ain't new.