skip to Main Content

Vancouver to adopt ‘locals-first’ housing strategy

Vancouver locals are about to get first crack at some new condo projects in the region, as developers are either being forced to comply with new regulations or they are voluntarily changing tactics as they face an increasingly irate public.

As the city’s real estate market continues to move out of reach for many local residents, reports of condo units being presold to foreign buyers have generated anger and concern.

So now at least three projects in Vancouver are moving to a locals-first strategy when preselling and more are to come, say marketers and city officials.

Vancouver Real Estate News, Market Updates, Insider Tips, Stats, & Analysis

Sign up for insider real estate news & tips from our podcasting team.

Are you a realtor? Click here
Selling Your Home? Click here

  • Reload
  • Should be Empty:

One is a high-end tower downtown being built by Bosa Properties, which is the first to adopt a “locals-first” selling campaign just in advance of a new city policy.

One condition of the project’s approval at a public hearing this past week is that only people who live in British Columbia or work in the Vancouver region be eligible to buy for the first 30 days – if they can afford a luxury condo in the 42-storey tower.

Continue reading the full story here >>

This Post Has One Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

As Seen and Heard On

Media enquiries and press contact info: media@vancouverrealestatepodcast.com

© 2020 Matt Scalena PREC* & Adam Scalena PREC* , all rights reserved • Site MapBy Line49 Web Design, Vancouver BC

*Considering a real estate transaction? One of the first decisions you will need to make is whether you should work with a licensed real estate professional who will represent you. Take a moment to read this important consumer protection information from the Real Estate Council of BC. This form explains the special legal duties that real estate professionals owe to their clients. CLICK HERE and please call 778-847-2854 or 778-866-4574 immediately if you would like to discuss.

Back To Top