[Vic West] Bayview Place, tower 4 (Roundhouse) | Condos | 25-storeys | Approved

i am waiting until supply is more abundant and buyers are not as pressured to make offers without full due diligence.

You and 10,000 others are of the same opinion. Save for the sort of crash that brought down the continent back in 2009, pent up demand for lower price tiers will thrust buyers into a frenzy, too.

But you needn't have to worry about the due diligence thing now. It's only the most desirable properties that face this sort of pressure and 9/10 you'll have enough time to do whatever you feel you need to do to ensure you're making the right decision. Honestly, if I were you, and if I had the money to buy, I wouldn't even think about it.

If you don't pay any rent then you're perfectly situated to buy a pre-sale. It'll be a three or four year wait for completion and by that time the market will be ready for an upswing in a year or two after possession (if you feel we're headed for several years of a down swing) or you'd have bought a unit at 2018 prices that in a flat market will still be valued more in 2022 just through inflation and an overall growing demand through a growing population.

When we speak of the west coast as a "market" we may be discounting a demand factor that is inherent. We live in one of the most beautiful places in the world. I remember back in the '80s, Toronto was the most expensive real estate market in Canada. Victoria was down the list. I could never understand why Toronto was so expensive, when you could be living out here. Retirees, nature lovers, sea seekers will all continue to desire this area. I think we'll remain fairly steady.

I've travelled to a lot of places that are more beautiful. The island I am from in Croatia the sea is like 10x nicer than the ocean here in my opinion, but you can't find employment on the island where I am from so what is the point other than to visit. 

I think what makes Victoria special is the combination of everything. It is beautiful, but not spectacular. The weather isn't perfect, but it will do. It is located in one of the best 10 countries in the world in terms of health care, infrastructure, etc.

It is a pretty rare combination.

You know, I wouldn't exchange the wild and rugged west coast for a beach in a warmer climate. There's just something so visceral and raw about our coastline that I thank my blessings I can access it any day I want to, and travel to the hot destinations if/when I so desire.

Four seasons without any of them tipping the scales, a small urban centre and nature. It's a combination that resonates the world over.

Florida has some of the nicest beaches I have ever been to. However....

I've travelled to a lot of places that are more beautiful. The island I am from in Croatia the sea is like 10x nicer than the ocean here in my opinion, but you can't find employment on the island where I am from so what is the point other than to visit. 

 

I think what makes Victoria special is the combination of everything. It is beautiful, but not spectacular. The weather isn't perfect, but it will do. It is located in one of the best 10 countries in the world in terms of health care, infrastructure, etc.

 

It is a pretty rare combination.

Croatia is an outstanding destination. I'd encourage everyone to visit. ( no I'm not from there.)

Mods might want to crack down on the Croatia tourism spam on this board before longtime forumers start to Split (believe me, a Dalmatian can change its spots).

Got a call from Bayview Place sales team asking if I was still interested in buying a unit seeing I pre-registered. They did not mention when sales would start or pricing. I am interested but depends on price, finishings etc.

Got a call from Bayview Place sales team asking if I was still interested in buying a unit seeing I pre-registered. They did not mention when sales would start or pricing. I am interested but depends on price, finishings etc.

Did anyone else get a call or hear any more details on launch etc.

Did anyone else get a call or hear any more details on launch etc.

Just got an email from Bayview Place.   Their new development permit has been approved - floor plans and marketing materials are being finalized, sales to start in early 2019.

Roundhouse used to have signs saying it would be completed in 2015. Here we are in almost 2019 and still nothing has happened. What a joke

Just got an email from Bayview Place.   Their new development permit has been approved - floor plans and marketing materials are being finalized, sales to start in early 2019.

We all knew that a month and a half ago. After doing the big sales event well over a year ago for this tower it makes you wonder. They would have been sold out super fast if they would have sold the units back then. Now with spec tax they better have some good pricing or it could be a slow go

It'll be a slow go, in this market (nothing wrong with that).

I'll be very happy to see construction get underway.

I think if the pricing is the same as what they presented last year it will sell fast. 

Just ran into my neighbor and he heard they are calling this building the E&N WTF? He also mentioned they are coming out at a higher price point than presented last year at their open house at the sales center and will be more along the $1k/sqft. Has anyone else heard something similar because if they are coming out higher than last year price point they presented they will have some upset registrants and may end up like Bayview One trying to get high prices in a softer market. Just look at the Pearl, Hudson, Capital Park it's a slow race.

Edited by songheesguy, 30 December 2018 - 02:05 PM.

Just ran into my neighbor and he heard they are calling this building the E&N WTF? He also mentioned they are coming out at a higher price point than presented last year at their open house at the sales center and will be more along the $1k/sqft. Has anyone else heard something similar because if they are coming out higher than last year price point they presented they will have some upset registrants and may end up like Bayview One trying to get high prices in a softer market. Just look at the Pearl, Hudson, Capital Park it's a slow race.

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.

There was never any chance the prices would be as they were described in November of 2017. Even back then the prices were lower than woodframe product further afield.

The advantage Mariash has is he bought the land 20 years ago when nobody saw value in it