After a very slow Fall/WInter in Real Estate sales, Concord Pacific decided to launch their latest development, Cosmo, last month and take part in what has turned into a hot summer market. The project will be located directly across from the four Spectrum Towers on the corner of Georgia and Beatty, and on the outskirts of False Creek in Yaletown.
Concord Pacific has been marketing this project as the heart of Vancouver’s entertainment district, with GM & BC Place right next door. Hoping to appeal to mostly young urban professionals, the project boasts furnishings by Armani Casa (Georgio Armani), marble finishings, and interior designs by Portico. The building will share the Spectrum pool and gym, while having it’s own exclusive bowling alley, TV room and huge outdoor terrace.
This project is set to become one of many new buildings in the neighbourhood, forming ‘Northeast False Creek’ on the now underdeveloped land.
The Cosmo sales centre can be found at Pacifc and Carrall Street, open from 10am-5pm. Prices range from $218,800 for a studio to $513,800 for a 2 bedroom.
For more information, or to visit the Concord presentation centre, call Kari at 604-763-7785 or email karidenreyer@remax.net
The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June.
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005.
New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008, when 6,546 new units were listed. However, new listings increased 13.5 per cent from May to June of this year. Total active listings in Greater Vancouver currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent below the active listings count at the end of May 2009.
“Price reductions and low interest rates have created an improvement in affordability, which is causing the number of sales to rise to levels comparable to 2003 to 2007,” Scott Russell, REBGV president said.
“Many people who were reluctant to purchase a home last fall and earlier this year are returning to the market because they see conditions that appeal to their personal and financial needs,” Russell said. “However, the current marketplace is such that buyers are more inclined to walk if they don’t like the terms of an offer.”
Residential benchmark prices, as calculated by the MLSLink® Housing Price Index, declined 8.2 per cent to $518,855 in June 2009 compared to June 2008.
The number of sales of detached properties increased 81.6 per cent to 1,667 from the 918 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 8.4 per cent to $701,384 in June 2009 compared to June 2008.
The number of sales of apartment properties in June 2009 increased 69.3 per cent to 1,790, compared to 1,057 sales in June 2008. The benchmark price of an apartment property declined 8.2 per cent from June 2008 to $356,880.
The number of attached property sales in June 2009 increased 78.2 per cent to 802, compared with the 450 sales in June 2008. The benchmark price of an attached unit declined 7.3 per cent between June 2009 and 2008 to $441,620.
If you are thinking about getting involved in the hot Vancouver market, feel free to contact me at any time.
Kari Denreyer
Remax Crest Westside (karidenreyer@remax.net) 604-763-7785
