A new report issued by the Urban Development Institute has found that released and unsold inventory, i.e. the supply of pre-sale of condo’s in the Metro Vancouver has reached its lowest level since 2010.
The number of move-in ready concrete condominiums in the second quarter was reported at only 23 units across Metro Vancouver. It is our view that the continued low levels of inventory over the course the next 12-18 months will further exacerbate the current upward movement in average prices. Pre-sale market will remain robust and the average prices/SF will be breaking new records in the months to come. This further validates our strategy to divert attention from single family market and invest in the multi-family space as we predicted that the lowered affordability metrics and low inventory of condos will create opportunities in the attached market. 3000 Henry is an prime example of one of Abana’s latest acquisitions consistent with this strategy and has already proven to be a stellar acquisition with above industry ROI.Download Report