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British Columbia considers halt to exclusive access for condo presales

By Kathy Tomlinson for The Globe and Mail

Forcing developers to make preconstruction condo units available to all potential buyers at the same time and the same price is something B.C.’s Finance Minister says she is open to trying in order to help make real estate more affordable in and around Vancouver.

It’s part of a broader promise by the B.C. government to address soaring real estate prices in the Vancouver area.

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“We are open to looking at options that are necessary to make our housing market more affordable. We are not closing any door,” Carole James said in an interview.

“If there are further steps we need to take we will be moving on them because this is a critical situation for people who live and work in our province.”

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