About a dozen suites have sold since Jukebox launched its post-completion sales campaign in mid-September, highlighting that demand for move-in ready new-build homes is an indicator that this under-supplied product in Victoria should garner more attention from developers and project financiers.
The newly completed Jukebox condominium at 1029 View Street is garnering attention for its move-in ready new-build residences in a real-estate market accustomed to pre-sale offerings for new homes. Developer Mosaic Properties Inc. set aside a collection of residences to list for sale upon the project's completion, a move that has seen a strong response from local buyers.
'Move-in ready' new-build condos a hot commodity in downtown Victoria's real-estate market
Victoria’s condominium industry is turning to an increasingly popular albeit under-supplied segment of the real-estate market with a focus on move-in ready purchase opportunities in lieu of traditional pre-sale offerings.
In new-build real-estate speak, the term move-in ready refers to completed suites available for purchase as part of a development project’s post-completion and final sales effort.
Already in-vogue throughout North America’s largest cities, the growing popularity of move-in ready condominiums is gaining traction in the Capital with local developers reserving select quantities of units for sale upon project completion rather than pursuing sold-out status during pre-sale (pre-completion) marketing phases.
“As Victoria’s condominium market matures we’re seeing a shift away from a nearly universal pre-sale focused sales drive, where purchasers must decide on which home to buy based off of floorplans and renderings, to one where a growing number of buyers will wait for finished product to cement their buying decision,” says Victoria REALTOR® Marko Juras. [Full article