Developers in Vancouver and BC face challenges as high mortgage rates and strict pre-sale deadlines deter buyers, delaying new real estate projects amid a tightening market.
i reckon devs might pivot to smaller scale projcts that appeal to more select buyers. got a feeling less flashy but more stable offerings will win out in these times. time will tell, though.
I’ve noticed this trend too. High mortgage rates really seem to be reshaping things. I’m curious how developers are planning around these challenges. Anyone read about any flexible strategies emerging? What’s everyone’s take on this adaptation?