[Burnaby] The Amazing Brentwood | 15 Towers | 186m | 56 flrs | U/C & Proposed - Page 163

NetMapel · #**3241** Posted **Jan 31, 2019, 4:04 AM**

Some light stuff going on right now

SpongeG · #**3242** Posted **Jan 31, 2019, 4:05 AM**

neat

e-clam9 · #**3243** Posted **Jan 31, 2019, 6:40 AM**

Quote:

Originally Posted by retro_orange

Being next to the skytrain line, I'm sure the market will absorb it with ease.

Yes, the market will absorb it but it depends on price. I visited University District last week, new tower II price per sq.ft. dropped below $700 there and it is near Surrey Central Skytrain. Tower I was all above $800/sq.ft. few months ago. You may not believe how many pre-sales coming out this year. There will be 2000+ in north Surrey area in these couple months. There are also a few new pre-sales condo buildings at Brentwood and metrotown area in these couple months. Currently, many MLS listings have the "Reduced" word next to their price. If new pre-sale condo price drops more, it can drag down existing condo prices. The current new BC speculation tax rules do not welcome foreign (both abroad and local) and satellite owners and buyers anymore. Only the actual BC resident with citizenship/permanent card can avoid this tax for primary resident and their 1st rental unit. With more new rental units coming out and lower condo sales, I would not be surprise to see both condo price and rent drop at the same time. I think when condo price drops enough, people will start buying instead of renting. No one wants to pay mortgage for someone else. By that time, condo price will stabilize. I hope it will happen in one to two years. I also worry that many pre-sales contract will flood the market in these few years. They may have to sell for a loss before the building is done.

For example, I counted 11 "reduced" listings out of 23 listings at in this newly build metrotown condo building. It happens in many other condo listings too.

https://www.zolo.ca/burnaby-real-est...0-assembly-way

PS. You can get a new car, a luxury item or a oversea trip if you buy a condo at Oakridge Redevelopment now :-)

Tetsuo · #**3244** Posted **Jan 31, 2019, 7:09 AM**

Quote:

Originally Posted by netmapel

some light stuff going on right now

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retro_orange · #**3245** Posted **Jan 31, 2019, 7:35 AM**

Quote:

Originally Posted by e-clam9

Yes, the market will absorb it but it depends on price. I visited University District last week, new tower II price per sq.ft. dropped below $700 there and it is near Surrey Central Skytrain. Tower I was all above $800/sq.ft. few months ago. You may not believe how many pre-sales coming out this year. There will be 2000+ in north Surrey area in these couple months. There are also a few new pre-sales condo buildings at Brentwood and metrotown area in these couple months. Currently, many MLS listings have the "Reduced" word next to their price. If new pre-sale condo price drops more, it can drag down existing condo prices. The current new BC speculation tax rules do not welcome foreign (both abroad and local) and satellite owners and buyers anymore. Only the actual BC resident with citizenship/permanent card can avoid this tax for primary resident and their 1st rental unit. With more new rental units coming out and lower condo sales, I would not be surprise to see both condo price and rent drop at the same time. I think when condo price drops enough, people will start buying instead of renting. No one wants to pay mortgage for someone else. By that time, condo price will stabilize. I hope it will happen in one to two years. I also worry that many pre-sales contract will flood the market in these few years. They may have to sell for a loss before the building is done.

For example, I counted 11 "reduced" listings at in this newly build metrotown condo building. It happens in many other condo listings too.

https://www.zolo.ca/burnaby-real-est...0-assembly-way

PS. You can get a new car, a luxury item or a oversea trip if you buy a condo at Oakridge Redevelopment now :-)

I believe this tower is all rentals? Maybe it's one of the other phases i'm thinking of.

e-clam9 · #**3246** Posted **Feb 1, 2019, 12:14 AM**

Quote:

Originally Posted by retro_orange

I believe this tower is all rentals? Maybe it's one of the other phases i'm thinking of.

Check out these condo around the brentwood mall, it is very common to see "reduced" word next to their prices now.

https://www.zolo.ca/burnaby-real-est...madison-avenue

https://www.zolo.ca/burnaby-real-est...-rosser-avenue

https://www.zolo.ca/burnaby-real-est...halifax-street

officedweller · #**3247** Posted **Feb 1, 2019, 12:31 AM**

Quote:

Originally Posted by NetMapel

Some light stuff going on right now

Klazu,
can you see the lights from Metrotown?

SpongeG · #**3248** Posted **Feb 1, 2019, 8:35 AM**

Maybe already posted but I never saw these

source

GeeCee · #**3249** Posted **Feb 1, 2019, 11:35 AM**

Sure looks like it's getting close..

Thanks for posting those.

Andros · #**3250** Posted **Feb 2, 2019, 12:47 AM**

Wow! This is the first look of the inside as far as I can remember.

Thanks for the post!

GilmoreStation · #**3251** Posted **Feb 9, 2019, 3:59 PM**

the balconies look way better finally, i'm happy

Klazu · #**3252** Posted **Feb 9, 2019, 8:50 PM**

Quote:

Originally Posted by officedweller

Klazu, can you see the lights from Metrotown?

Yeah, I can see there being a small colorful light, but I can't make out what it is with my bare eyes. With 4 kilometers between Brentwood and Metrotown, it is just a bit too far, but I am sure I could see it with my zoom lens.

Lexus · #**3253** Posted **Feb 10, 2019, 2:27 AM**

My Pics 2019-02-09

Tower 3 really picked up and grows about a floor per week

Untitled by Dmytro Zhukovets, on Flickr

officedweller · #**3254** Posted **Feb 11, 2019, 12:40 AM**

Thanks for the pics.
Good height on those trees (though so are leaning oddly)

skylinegazer · #**3255** Posted **Feb 11, 2019, 4:24 PM**

love the pix gilmorestation and lexus!!

here we can see the towers looking like they're part of downtown (far left)

Cloud over Vancouver by Wally Roth, on Flickr

VantageHD · #**3256** Posted **Feb 11, 2019, 5:32 PM**

Wow, never seen that angle before with so many background towers in view. Very cool!

Spr0ckets · #**3257** Posted **Feb 11, 2019, 7:00 PM**

Is that also Metrotown in the distance to the far right of the picture?

I didn't think you could see it from this far out north of Downtown.

That's a pretty cool shot.

zahav · #**3258** Posted **Feb 11, 2019, 10:58 PM**

I hope this flood of units will get the prices back down to somewhat reasonable territory! It's played like a broken record, but the rents have to be reasonable or else we;'ll lose even more people

Marshal · #**3259** Posted **Feb 11, 2019, 11:06 PM**

Quote:

Originally Posted by Spr0ckets

Is that also Metrotown in the distance to the far right of the picture?

I didn't think you could see it from this far out north of Downtown.

That's a pretty cool shot.

Yes it is. This photo gives us an idea of what the skyline of an expanded downtown footprint will begin to look like.

Vin · #**3260** Posted **Feb 11, 2019, 11:15 PM**

Quote:

Originally Posted by Marshal

Yes it is. This photo gives us an idea of what the skyline of an expanded downtown footprint will begin to look like.

I mentioned about 6-7 years ago that Vancouver should have skyscrapers outside the downtown proper in the Olympic Village, Mount Pleasant, West Broadway and Kitsilano neighbourhoods, and was systematically torn to shreds by others. Don't think people like the idea here. Just like the photograph, it would always just be an illusion for this to happen here.