Metro Vancouver’s sluggish residential real estate market has caused some developers to pull the plug on projects, while others either delay or “retool” housing developments or switch their firms’ focus to rental housing.
Pre-sale homebuyers at Richmond’s Alfa condominium project were left in the lurch in July when developer Anderson Square Holdings Ltd. sent them notices to say that it was cancelling their contracts for units in the under-construction building because the developer was “facing serious and significant circumstances beyond its reasonable control.” Continue reading →
It’s hard not to chuckle when real estate agent Carolyn Glazier tells you her client is selling their $28.8-million, 13,000-square foot-plus Villa di Fonti luxury mansion in Surrey because they’ve decided to downsize.
Compared to this place, that’d be pretty much every other residential property in B.C., and with very few exceptions when it comes to price.
“They’ve enjoyed the property and their grandkids have enjoyed the property. I think they’re now just downsizing,” Glazier said of the current owners, whose names she declined to reveal.
“They’ve loved it; they’ve had weddings and events with friends and family there, they’ve enjoyed the property thoroughly.”
When you pass through the front gate, at 4552 192nd St., you can’t say you’re on a driveway – it’s more like a road, in the conventional sense, and a pretty long one at that.