While condo sales across B.C. are declining as a whole, a small pocket of the region is actively ‘moving the needle’. Data from the Fraser Valley Real Estate Board indicates that condo sales in Langley, Surrey and White Rock were higher when compared to numbers from one year ago.
This data suggests buyers are after affordability but also the amenity and space that comes with a suburban lifestyle.
What’s interesting is that Langley’s residential condo development, Waterstone, has seen an increase in sales since last year.
“June 2012 was our busiest month to date and we have seen a steady increase since last year,” said Scott Brown of Colliers International, the marketing firm for Waterstone.
“More than a third of our buyers are downsizers and of these purchasers, many have raised families in Langley and Surrey and are not only looking for bigger spaces that are more than 1,000 square feet, but amenities within their community.”
Waterstone is situated near established retail centre and offers a 15,000 square foot clubhouse.
“Much of the feedback from purchasers has come from the fact that Waterstone offers suites large enough to downsize into as well as ample amenity space,” said Brown.
“The development features a cosy fireside lounge with chef’s kitchen and wine bar, a party and games room, business centre area, indoor pool, steam room, whirlpool and sauna, and state-of-the-art fitness facility.”