Morshed said:
75% of units are sold. Great news. Hopefully Canadians/ Calgarians who are actually planning to live in these units. Unlike Vancouver...fully sold out condominium buildings but no lights at night time 🤔
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I don't foresee this being an issue.. Calgary condo prices aren't rising enough to warrant keeping them empty for a return. There is probably a decent amount of investors who will rent the condo out and rest will be owner occupied until. Even in Vancouver most units are occupied, these days.
 
Morshed said:
75% of units are sold. Great news. Hopefully Canadians/ Calgarians who are actually planning to live in these units. Unlike Vancouver...fully sold out condominium buildings but no lights at night time 🤔
Click to expand...

There seems to be this misconception that all the speculative real estate prices and vacant units are the cause of foreign buyers. For the past few years, the majority of the price gains are driven by local speculative buyers. I have a few family and friends in Metro Vancouver that took out the equity in their first home just to buy another home and rent it out. At this point, the Vancouver and Toronto real estate markets are a Canadian problem. And as far as empty units go, there are hardly any units sitting empty based on the vacant home tax data from last year.
 
gsunnyg said:
There seems to be this misconception that all the speculative real estate prices and vacant units are the cause of foreign buyers. For the past few years, the majority of the price gains are driven by local speculative buyers. I have a few family and friends in Metro Vancouver that took out the equity in their first home just to buy another home and rent it out. At this point, the Vancouver and Toronto real estate markets are a Canadian problem. And as far as empty units go, there are hardly any units sitting empty based on the vacant home tax data from last year.
Click to expand...
I lived in a brand new highrise in Metro Vancouver and just moved into a presale townhouse. The other thing the data misses is the amount of investors who purchase a presale, close then hold for 1 year and then sell capital gains free. They may list the place as their primary residence, but they are barely there then they sell. Then move to their next completing property. By 3-4 years in the building is stabilized.

Interestingly you can see the vehicles change from all high end brands and super Cars to more regular vehicles as the building becomes more local orientated.
 
Theodore looks great on that corner, I wish it was 14 or 15 stories instead of 10 stories.
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Almost done the top floor…

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I’m most excited for the curtainwall NE corner. If that is executed well, the project will be an instant win in my books.
 
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