I don't know if prices presented last year at sales center would even cover construction costs. The Promontory (5 yrs old) sells $800 to $900 a foot so can't expect it to be lower than that.
That all being said the pre-sale market is being flooded at a time when the market is slowing down. Will be interesting times in 2019 for pre-sales.
The Bayview is selling at $640/sqft and is higher end and Promontory has been getting around $800/sqft in the past but not much selling in there at that price lately but I agree construction cost have gone up since last year but will they be able to charge the same rates with a slowing market and lots of current projects completing in 2019 or sharpen their pencils. 2019 will IMO be one of the most volatile for the real estate market in Victoria since 2007. Whatever happened to the days of pre sales coming on market at less than current market value?
Edited by songheesguy, 01 January 2019 - 10:52 AM.