Surrey Developer Said "Bet," Offering Wild Deals on Presale Condos 🏘️💸
Surrey developer offering to buy back, or rent out, presale condos at today's prices. Okay, so this developer in Surrey is like, "Aight, fam, I gotchu." They're offering to either buy back your presale condo at the OG price or rent it from you for a fat stack. It's all about sharing the risk 'cause
TL:DR
Okay, so this developer in Surrey is like, "Aight, fam, I gotchu." They're offering to either buy back your presale condo at the OG price or rent it from you for a fat stack. It's all about sharing the risk 'cause the market's kinda sus rn, especially with rising rates and hella unsold units. They are confident in SkyLiving project, fr fr.
The Tea is Piping Hot ☕
Listen up, bestie, 'cause this is some real estate tea you need to sip. This developer, Allure Ventures, over in Surrey is pulling some next-level moves. They're basically saying to anyone buying a presale condo: "Yo, if you're stressing about the market, I gotchu."
They're dropping two options that are kinda fire: First, they'll straight-up buy back your condo at the price you originally paid. No cap. Second, they'll rent the unit from you for a whole two years, and they're gonna pay you like 20% of the original purchase price annually. That's a lotta bread 🍞.
Why they doing this? Well, the presale market is looking kinda shaky rn. Interest rates are climbing, and values might be dropping. Some developers are even hitting pause on presales 'cause they can't sell enough units. It's a whole mess. But Allure Ventures is like, "Nah, we believe in our project. We'll share the risk."
Word on the street is, there are mad unsold condos in Metro Vancouver right now - like 4,480 units, to be exact. Oof. Even Rennie Marketing, a big real estate company, had to lay off some peeps. But Allure Ventures is still out here building their 32-story SkyLiving project near UBC and SFU, betting that they're gonna slay.
The program low-key is set to start May 31. We are so here for a developer sharing the risk, frfr.
Abbreviations Glossary
| Abbreviation | Full Form |
|---|---|
| Aight | Alright |
| Fam | Friend, buddy |
| OG | Original |
| No cap | No lie, for real |
| Bread | Money |
| Rn | Right Now |
| Mad | A lot |
| Peeps | People |
| Slay | Do well |
| Low-key | Secretly |
| Frfr | For real, for real |
| Sus | Suspicious |