Metro Vancouver is set to receive a massive new wave of housing stock as the first development projects that signalled the start of a building boom several years ago will reach the pre-sale phase sometime this year. A new report by MLA Canada says over 10,700 concrete condo and townhouse units within a geographical area defined as ‘Greater Vancouver’ will be be released into the pre-sale housing market. Pre-sales are generally projects that are ready for purchase before the units are ready for occupation, because they are under construction or have yet to enter the construction stage. If the real estate company’s predictions are correct, it will mark a five-year high for new releases and a potential 15% increase over 2016.
Read the full story from, DAILY HIVE VANCOUVER.