- Thread starter Daveography
- Start date
KreationYEG
Active Member
northlands
Senior Member
Crane onsite today removing the construction elevator.
MacLac
Senior Member
Time to move the construction elevator to another high rise project…..one that is more than a measly 6 stories…..perhaps the Hudson!
archited
Senior Member
From the top -- more than 80% sold already as the show suite opens...
And who said Edmonton's Condo Market was dead?
The Wait is Over - Show Suite Grand Opening
mailchi.mp
Still a lot of room between good and dead.
David A
Senior Member
To paraphrase Mark Twain - tales of its death have been greatly exagerated
IanO
Superstar
Hardly.
The appetite for new condos in the core is still lagging; much of this tower 'sold' a few years ago now and during its launch to get a hopeful uplift and likely fairly speculative in nature. It's a good location, good looking building and decent layouts and will over perform, but dont let this fool you or the state of the market.
There is a reason why most new projects are going purpose built rental over condo.
The appetite for new condos in the core is still lagging; much of this tower 'sold' a few years ago now and during its launch to get a hopeful uplift and likely fairly speculative in nature. It's a good location, good looking building and decent layouts and will over perform, but dont let this fool you or the state of the market.
There is a reason why most new projects are going purpose built rental over condo.
archited
Senior Member
thommyjo
Senior Member
Also the only new project selling units under 450k. Pay big for legends and sky, view for budget. Encore in the middle. Outside of that, just resale.
I also wonder if the couple dozen falcon buyers moved deposits over once that changed. I think we need to see multiple towers selling 70%+ to say tides have turned.
I also wonder if the couple dozen falcon buyers moved deposits over once that changed. I think we need to see multiple towers selling 70%+ to say tides have turned.
David A
Senior Member
COVID and the oil price collapse did hit Alberta and Edmonton hard. While the effects are still lingering, I think it would be a mistake to focus on the past too much, especially unusual or one time events, to forecast the future.
It might not be evident to everyone yet, but I think a strong recovery will be happening.
It might not be evident to everyone yet, but I think a strong recovery will be happening.
archited
Senior Member
^^^^ I think it is quite evident to all but a few.
IanO
Superstar
^there is momentum building and stars aligning, but the central condo market (although improving) is still lagging.
_urbanite
Senior Member
Edmonton could be headed toward housing supply shortage, real estate industry leaders warn
Based on this article, we should see a rebound in the condo market. Not all immigrants will be in a position to buy SFH's, so at some point new condo demand will increase, especially if new SFH prices continue to climb like they have. Out of province buyers will be priced out of that market too at some point
I predict in the later half of 2023 we will see at least some smaller scale developments get announced.
Based on this article, we should see a rebound in the condo market. Not all immigrants will be in a position to buy SFH's, so at some point new condo demand will increase, especially if new SFH prices continue to climb like they have. Out of province buyers will be priced out of that market too at some point
I predict in the later half of 2023 we will see at least some smaller scale developments get announced.
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archited
Senior Member
Let's mark this as the point in time when "the shift" begins -- not quite there yet, still lagging -- but definitely moving in the direction of "when the shift hits the fan"!