Well this practice has been going on in the good old United States of America for some time now and it was about time it made its way north of the border. What better place to start than the once condo mad market known as the Lower Mainland.
Onni (a local developer) is having a fire sale, everything must go liquidation on approximately 375 condo units that remain unsold. This begs the question, will other developers follow their lead? Who knows, but if you are looking at buying perhaps you want to check this out, or it still might be best to wait it out?
Sources indicate that they are going to sell this excess inventory at 20 – 40%. Hell even broke ass Money J Skeets can afford some of their stuff at these prices. What isn’t known is if they are at 20-40% initial listed prices or revised prices. I’ll be away in big business meetings all day. I’m sure Condohype will keep you abreast as to the goings on.