[whatnext]

Vancouver pre-sales fall 50% and new condo launches are down 75% over last year:

New condo sales, starts plummet in Metro Vancouver
Only two new condominium projects with 200 units launched in the six weeks ending May 15, down 75 per cent from the same period in 2019
By Frank O'Brien, Western Investor | July 2, 2020

A pandemic panic may be settling into Metro Vancouver’s once robust condominium market, at least for the short-term. Presales of new condo units are down 50 per cent and new product launches had plunged 75 per cent as of mid-May, industry reports say.

Some buyers of pre-sale condos are now trying to unload their investment on Craigslist before the building opens.

According to the latest results from Altus Group’s Condominium Apartment Monitor, between the beginning of April and the middle of May, only two new condominium apartment projects launched in Metro Vancouver, with a total of just over 200 new units, down by almost 75 per cent from the same period in 2019....

https://biv.com/article/2020/07/new-...etro-vancouver