Gap narrows between condo, house prices in Greater VancouverNovember 24, 2015 10:00 am
The gap between sale prices of new condos and those for single-family homes could be closing as more buyers pay ever-climbing prices for condominiums in Greater Vancouver.
So far this year, there have been more than 2,000 new condo sales than at the same point last year, a 20-per-cent increase, according to Michael Ferreira, managing principal of Vancouver-based Urban Analytics, who addressed the Urban Development Institute last week. The figure totals two-thirds more sales than in 2013, he said.
Looking ahead, Ferreira said 87 per cent of the 21,600-plus concrete condo units scheduled to be finished by the end of 2018 have already sold.
Categorized in: The Vancouver Sun