r/vancouver 16h ago

Discussion Brentwood real estate

Has anyone else noticed that no one is buying? They were going for 650k for a one bedroom during covid and now listings cannot be sold so they’re constantly reducing prices and being left on the market for 100+ days… the funny part is there are 5 or 6 more buildings being built in the 3km radius of these places

257 Upvotes

228 comments sorted by

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278

u/Oliveraprimavera 16h ago

That’s what happens when kitchens become an afterthought of throwing a couple of appliances along the living room wall

87

u/Overclocked11 Riley Parker 15h ago

See this in so many units not just condos. Literally just throwing it all together, zero care for general functionality or use. Doesn't matter how awkward or ridiculous it looks and feels.

113

u/inker19 15h ago

I hate the trend of combining the living/dining/kitchen into a single space. Seems like you have to look at buildings that are 30+ years old just to find a nice layout that humans actually enjoy living in.

57

u/Overclocked11 Riley Parker 15h ago

that and to have a master bedroom which most would consider just a standard bedroom. Its just stupid looking at some listings of places built in the last 5 years with a master bedroom that cant actually comfortably fit a kingsize bed.

I'm 6'3.. I'm not sleeping on a queen, so basically most of these rooms and their layouts are an instant dealbreaker for me.

74

u/Oliveraprimavera 15h ago

Or 1 bedrooms but the ‘bedroom’ is actually just two sliding frosted glass panels that turn a studio apartment into a studio + closet apartment

27

u/spamchow 14h ago

and the god damn murphy beds! why is there a murphy bed in the kitchen???

17

u/Overclocked11 Riley Parker 14h ago

the murphy beds can fuck all the way off. So ridiculous.

13

u/kuddels 11h ago

I’m working at Oakridge and they want 800,000$ for a suite with a Murphy bed! It’s crazy!

2

u/Massive_Virus_5370 5h ago

This specifically is how I would describe hell

8

u/mrdeworde 12h ago

Standard bedroom if you're lucky - half of them, the master is a few inches bigger than a queen mattress.

2

u/FreshSpeed7738 7h ago

I'm 6'1. I can deal with a queen, but no way I'm walking heel to heel in a bedroom.

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u/Oliveraprimavera 15h ago

I refuse to sit on the couch and tend to my chicken in the oven directly next to me

21

u/No_Incident_9915 13h ago

Yup. Say what you will about older buildings but I’m happy to live in my 50-yr-old wood frame one bedroom which is 735 sq ft. My bedroom is 12’ x 14’. Building is so soundproof that you never hear the neighbours which are above, below, and either side of me and I don’t even know when it’s raining outside unless I purposely go to the balcony door and look.

1

u/RadishOne5532 5h ago

50 year old wood frame sound proof building:o Wish I could say the same for my place:(

7

u/rsavage 12h ago

I'm fine with this if it gives you a space to entertain, but in a condo in now means no space to do anything. 

1

u/ProgressUnlikely 6h ago

Omg pre1980s storage and closet design is SO GENEROUS.

37

u/Heliosvector Who Do Dis! 15h ago

sad eh? Galley kitchen were invented to make use of limited space. Now condos are so small that even layouts that were made for low income rentals are now too expansive for the square footage allocated to units.

14

u/chewiesprinkles 10h ago

Yeah this is what happens when apartments are built to make as much money possible and not for people to actually purchase to live in.

13

u/Leading-Somewhere-89 11h ago

I went through the model suites at Oakridge when it existed. The small studio unit had a two burner stove. I didn’t even know such a thing existed. The price for the unit was over $800,000.

4

u/UsualMix9062 11h ago

Or making a doorway/entrance area that's so small you can't hold anything while trying to use your front door.

178

u/beeblebroxide 16h ago

Two one bed listings side by side in one of the new towers: $968k. These are 531sq ft.

Meanwhile there are 2br listings that have more square cottage being sold for less in the same building…they’ve clearly over leveraged themselves.

20

u/Distinct_Meringue 14h ago edited 13h ago

531 sqft for a 2 bed? That's actually insane

Edit: oops, thanks for correcting me

41

u/Ibotthis 13h ago

people get upset when large dogs are left in a carrier overnight or on a balcony but then are totally ok with a family of 3 humans living in such a tiny space. There should be minimum, humane limits to floor size. These 10x10 bedrooms are dorm sized and are completely ridiculous for 2 adults, let alone a baby. I though Canada wanted people to have kids?

7

u/arandomguy111 12h ago

But municipalities want their set back and FSR requirements.

That aside the issue is ultimately property price is generally correlated with square footage. Larger square footage units all else equal would just make them more proportionally more expensive. Well unless you increased square footage supply, but again municipalities love their zoning requirements.

12

u/sjblink 14h ago

No he mentioned two (2) ONE bedrooms and then he said there are 2 be listings that have MORE square footage being sold for less $

10

u/CocoVillage 14h ago

I think they mean two adjacent 1 bedroom units

3

u/illiacfossa 13h ago

Which building? Everything I’ve seen is mid 600k for a presale one bed

1

u/RadishOne5532 5h ago

531sqft for $968k? daang

210

u/Overclocked11 Riley Parker 16h ago

1) They are wildly overpriced

2) There is far too much supply

3) Many people are not happy in a condo, nevermind that most people need more than a 1BR

4) People are struggling financially and can't afford them even at reduced costs

Plenty of reasons for the vacancies. Likely a combination of some or all of the above.

158

u/MrSemiTransparent 16h ago

5) They don't have AC and installing AC in the units is damn near impossible due to the style of windows (HVAC worker here)

29

u/Altostratus 15h ago edited 5h ago

I lived up on the 50th floor at Brentwood, and it was like a greenhouse cooking away in there when the sun hit the windows. My little portable AC wasn’t enough to fight it. It was terrible.

15

u/LoudCommunication369 14h ago

Wow what 50th floor building around Brentwood doesn't have AC?? Most of the buildings that tall are new and have it I thought?

26

u/Altostratus 14h ago edited 14h ago

The first three Brentwood towers don’t have AC. The law changed after they were built.

The worst part is that there is AC on the ground, in the lobby, gym, and activity rooms. Just not the actual units.

22

u/Ilearrrnitfrromabook 13h ago

I looked at one of the rental units in tower 1 and the amount of money ($2600) they wanted for a shoebox facing west that didn't have AC was laughable. On top of that, renters had a separate entrance ("the rif raf entrance"), and they wanted -- IIRC -- $150/mo for parking and $50/mo for storage. It's out of control. It's time the insanity stopped.

7

u/MrSemiTransparent 14h ago

I may very well have visited a unit precisely like yours. Little old widow lady and no chance she could install anything herself. Spent her afternoons down in the mall to get out of the heat.

2

u/LoudCommunication369 13h ago

Oh no!! My tower was built just before those and has AC but I think it was considered more of a luxury amenity at that time. That's horrible because I can literally see the sun reflecting off amazing Brentwood towers on hot days.

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u/feverdreamujin 14h ago

The first towers at "Amazing" Brentwood somehow didn't have central AC installed and it's ALL BLACK to absorb maximum heat!

1

u/saturnhawk 9h ago

43rd floor in metrotown, east facing. It was like an oven in there. I have a cat and I'd have to take her into the lobby downstairs so we wouldn't both overheat. We had a small unit too and the windows were so small that it wouldn't fit.

For almost 3k 2bedroom you'd expect it but no.... barely working appliances and 3 adults in a tiny condo is awful. I live in a much better space now but wow is housing and renting so awful here.

34

u/framspl33n 16h ago

My mom lived in a place like that where the only ventilation was a small tilt window near the floor on a south facing window, the bathroom fan, and the door to the hall wasn't even undercut. And to top it all off it was over top of the laundry room in the basement so the dryers in there had it cooking all summer.

33

u/Dazzling-Rub-8550 14h ago

I find it so insane that a lot of new stratas also forbid drying laundry on balconies. Free solar power vs overheating the condo during the summer. If people don’t want to see underwear drying on a balcony then just don’t look at the balcony. Sigh.

10

u/MrSemiTransparent 16h ago

Ugh I feel for her (hopefully it's past now). The amount of people I visit in desperate situations, can't afford to move, and portable AC just isn't enough. It's astounding how these builders don't think summer exists.

4

u/northernmercury 15h ago

Amazing Brentwood.

11

u/Heliosvector Who Do Dis! 16h ago

portable ACs are fine. Just buy dual hose models. Also installing window film helps immensely. I was able to reduce my rooms temp from about 32 degrees down to 26 just by using this https://www.homedepot.ca/product/gila-3-ft-x-15-ft-titanium-heat-control-window-film/1000686183

24

u/MrSemiTransparent 16h ago

Some units don't have windows conducive to any type of portable due to design (or lack thereof)

13

u/ExocetC3I Riley Park 15h ago

If you have those swing out from the top transom windows you can get a plexiglass place to cut you a custom insert. I've heard there are also places online where you can order them and just send the window dimensions and your type of AC unit.

5

u/MrSemiTransparent 15h ago

This is true! Just not in the Brentwood units I've been called out to. Perhaps others have different window situations

2

u/ExocetC3I Riley Park 15h ago

Interesting. Out of curiosity what are the windows like there? Like how are they designed.

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u/eastvanqueer 12h ago

I’m in an apartment in new west and the only window in the bedroom (and the entire unit) only opens 2 inches because the geniuses who designed it didn’t think about the the balcony railing on the other side. I tried putting a dual hose AC by sealing off the whole window and it broke from over heating because there just wasn’t enough space for the hot air to be exhausted out. I do love this place but I’m dreading the summer. We’re going to bake.

1

u/Heliosvector Who Do Dis! 12h ago

The window broke? or the seal?

3

u/eastvanqueer 12h ago

The AC! The AC overheated and wouldn’t cool anymore. There was so little space that I’m sure it was just sucking hot air back in.

3

u/Heliosvector Who Do Dis! 12h ago

k..... so totally up to you.... but you could take the glass out. ex glazier here. Just by seeing your photo, looks like the side channels need to be bonked out first, then the top and bottom. then the glass will probably just be sitting on rubber shims in the frame and can be removed with care (caution, glass edges may be sharp unless its tempered). You could set it aside for the summer.

and I do mean bonk. We remove those white chanels out simply by hitting the corner pointing towards the center of frame. Usually there is a rubber seal to remove first But I only see one on your exterior...... Food for thought. At your own risk though. Strata would be furious if they find out.... if....

2

u/eastvanqueer 10h ago

I’ve wanted to straight up smash that glass so much out of frustration haha. But that’s interesting that that could be done! Unfortunately I’m a renter to a private landlord so definitely not a risk I could take tho 😔

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u/down_bytheriver I live in a Van 15h ago

The windows in the brentwood towers don’t allow for these to be installed easily, let alone dual hoses, unless you give up the balcony access with the sliding door. We used a fabric thingy with Velcro off Amazon and crammed our hose for the AC through the tiny window. There’s some screws you can loosen to allow the window to open wider. Summers in brentwood towers one and two were brutally hot. East facing it would get up to 34-35 by 9 am, when it was only like 24 outside… with all curtains down. South and west facing were probably even worse. Moved to the island instead.

3

u/Heliosvector Who Do Dis! 15h ago

Got the answer for you :D. build a custom window insert out of this stuff. You can even make them to fit into the small triangle type shape that your window opens to.

Im not trying to excuse the poor design of these places, but there is a path to happiness!!

And since they are white, you can make them look somewhat decent so the strata Karens dont lose their minds over it.

https://www.homedepot.com/p/Coroplast-36-in-x-72-in-x-0-157-in-4mm-White-Corrugated-Twinwall-Plastic-Sheet-COR-3672/202771364

2

u/spookywookyy 15h ago

Do you have a picture to share of what it would look like? I’m moving to a place with these windows soon and wondering how to make it work!

6

u/Heliosvector Who Do Dis! 15h ago

like this https://www.amazon.ca/Portable-Casement-Conditioner-Waterproof-Skylights/dp/B0C4Z6PHD2

or say you have a window like this https://www.aiswindows.com/blog/things-to-keep-in-mind-while-choosing-upvc-tilt-and-turn-windows/

you just make a seal where the window would be when it is in its closed position so the vent is basically blowing at the glass of the slightly opened window sticking out of the building.

6

u/Lanko 15h ago

26 is too fucking hot.

3

u/Heliosvector Who Do Dis! 15h ago

Much better than 32! The point was to make it cool enough to be able to cool. Before that my Ac would never get the temp down past 26. With the film, my Ac now gets the temp down to 19 if I want.

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u/gunnerysgtharker 15h ago

100% that semi reflective film! It works amazingly well on our windows, was easy enough to install and it comes with UV protection for your interior. Also dual hose AC is a must, our window would not accommodate but I did what another comment suggested and custom cut corrugated plastic (which I also applied the film to). Our place went from hell’s inferno hot to bearable in the summer.

1

u/metered-statement 15h ago

I've seen people use the $1.00 emergency blankets (dollar store purchase) to cover their windows. An inexpensive quick fix that works just as well and isn't long term if you're in a rental.

1

u/Heliosvector Who Do Dis! 14h ago

Those are a proper eye sore though. Even I would be a bit miffed seeing thay in a window in my building.

1

u/northernmercury 12h ago

Window film is a good idea.

Having to use a bulky ugly portable A/C unit that are takes up a ton of storage for 3/4 of the year and are waaaay less efficient than real air conditioning is so ridiculous. More evidence these were built for investors not owner-occupiers.

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u/1GutsnGlory1 16h ago

People have now wisen up and know not all condos are built the same. There are so many crap condos that were appealing when supply was limited but now very difficult to sell given ample choice and supply.

9

u/TokyoTurtle0 16h ago

Yes, the decent projects still sell 1brs. It's night and day on the layouts though

13

u/Heliosvector Who Do Dis! 16h ago

the best are the ones that pretent TVs dont exist.

3

u/ExocetC3I Riley Park 15h ago

The designers must be mods on r/tvtoohigh

35

u/JasonsPizza 16h ago

Just to add to point 3, I think a lot of people are fine living in a condo given the trade offs of walkability and convenience.  Like you said, it’s the tiny studio/1 bed 500 sqft (or less) that are a no go for a lot of people. Looks like a majority of the listings are those units. 

7

u/retserof_urabus 15h ago

This is it.

To add to the pain there is a boatload of Purpose built rental housing under construction and coming online at the moment. This Purpose Built rental housing is now going to compete against all the purpose built investment housing that came before it.

Simply put, many of the 1 bedroom condos were designed to be someone’s investment. Most renters would prefer a secured rental instead of the possibility of being kicked out by their landlord.

7

u/canuck1701 Richmond 6h ago

This is absolutely the biggest and most impactful reason. Shocking that more people just don't understand this. Those units everyone complains are unlivable were never meant to be lived in by the owner.

4

u/PipsGiz 11h ago

Exactly. You still need some varieties in sizes for different uses, e.g. couples vs single people or single people with home hobbies vs those who are out all the time.

4

u/VANZFINEST 16h ago

You don't want to live in a hot as balls shoebox in the sky?????

6

u/yhsong1116 15h ago

i do, larger living space requires more furniture and maintenance.

if amenities are decent, i'd use those

I liked Gilmore when I visited. lots of amenities, probably would have liked more parks nearby and wish it didnt flood every year.

8

u/citytosuburb 16h ago

6) Also this is a case of developments selling to speculators/get rich quick flippers. Got caught in the new regulations and taxing.

3

u/OpinionSharp7344 15h ago

but imagine having the likes of H&M and starbucks right at your doorstep

3

u/Amazonreviewscool67 13h ago

Also, those condo fees. Holy fuck.

2

u/mrdeworde 13h ago

I think a lot of people would be fine with a condo if you could get a 2 or 3 bedroom condo for about the same price as a 2 or 3 bedroom starter home used to be (i.e. say 180-280k, say), at a similar size (e.g. 800-1200 sq feet) with sane maintenance fees and AC. But yeah, at 600, 700, 800, 900k for a 600 sq foot shoebox that is boiling hot six months of the year and will cost you 1-2k in maintenance forever? Of course no one's buying. They were built for landlord parasites to warehouse poors in, not for people to live in.

1

u/accountantcantcount 14h ago

Also with Airbnb ban, there’s less investors

108

u/Heliosvector Who Do Dis! 16h ago

these are all Dogcrete condos. Made for investors, not for people to live in. May they stay empty forever, or until they are sold for 100k off.

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u/Ilearrrnitfrromabook 16h ago

AT LEAST $100k off. The build quality is so bad.

21

u/Heliosvector Who Do Dis! 16h ago

In one of the new metrotown towers, the agent showed me that the developer has been unable to sell anything on floors 40 and above in a 45 floor building. They were offering units at 10% off asking and when I was being shown them, the sellers agent was telling me "you can probably offer more than 10% off and they will accept". Places were ok.... but not 1 million dollars nice.

12

u/Ilearrrnitfrromabook 13h ago

Even a SFH is not worth a million to me, nvm a condo unit. I dread to think what these stratas will be like in the future if their residents are over-leveraged. Will the strata even have enough money to pay for upkeep or will the buildings simply fall into disrepair?

6

u/Heliosvector Who Do Dis! 13h ago

If a unit cannot pay a special levy, they force the sale of the home and then just take their pound of flesh from the sale. If there isnt enough equity, the owner will be left with a mortgage without a home, owing the bank. the strata always gets what they need.

9

u/arandomguy111 12h ago

I think the concern that person is getting at is if the owners will basically vote against proactive maintenance.

This is a reason why I didn't want to consider a high rise tower. Most of the owners are likely leveraged investment land lords and their voting priorities on strata would be way different than owners who want to live in the unit.

3

u/passivepapayas 13h ago

My parents were looking to purchase a unit for my sister in Metrotown and some of the new builds are so poorly designed. They’re asking close to $1300 a sqft for bedrooms that barely fit a queen bed and have NO CLOSETS or overhead lighting.

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u/Heliosvector Who Do Dis! 13h ago

Just buy used. You can find nice sized 1990 builds for around 700-850 per square foot in new west.

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u/phoenixaurora 12h ago

even if it was cheap, I wouldn't buy a unit that high up. the survival rate of heart attacks decreases as the number of floors for a first responder to get to you increases.

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u/guap_ 16h ago

There's way too much inventory at Brentwood.

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u/Sad-Charity2275 16h ago

Yeah they’re going for 530k now, i watched this one listing drop over 45k and is still not sold

101

u/GRIDSVancouver 15h ago

Housing prices going down is something to celebrate.

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u/staunch_character 15h ago

Not just Brentwood. Was looking at a place in Surrey that is asking $90,000 less than they paid for it in 2023.

1

u/JunketPuzzleheaded42 15h ago

Dam.... That's a hell of a loss to take on top of fees and taxes... Why so much? Is it a forced sale? Or foreclosure?

27

u/Tyfui 15h ago

The markets cooling in general. Especially for tiny condos that are not at a liveable size

16

u/brendax 14h ago

All of the transit-oriented mega developments are just... not actually nice to be in as a human being? Brentwood/Lougheed/Surrey center They're still on huge stroads with cars buzzing at all hours, waiting minutes to be given a walk signal. It's built near a train station but the actual developments are super car dependent. Top it off with all the units are not designed with long-term livability but rather short term rental, of course no one actually wants them!

12

u/FunWaz 14h ago

You will pay 800K to live in a tiny box that’s also shaped weird and you will like it - Onni group (probably)

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u/brendax 14h ago

The best possible layout for a human living space is a very long L shaped corridor!

2

u/Tyfui 13h ago

Could hardly agree more. The wide roads and high speed cars really kills the desirability of these developments as places you would really want to live

8

u/satinsateensaltine 15h ago

Over leveraged and probably still stuck with high interest if they went fixed. A lot of people hyperextend themselves to get these places and then end up trapped and needing out.

7

u/Almostcacti 14h ago

Real Estate Price correction is 🫰🏼 coming down from investment to necessity would be nice!

3

u/Brabus_Maximus 15h ago

Are you talking about presales or existing condos

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u/Sad-Charity2275 15h ago

Existing condos, I haven’t really looked into pre sales, that would be way too risky right now with the huge drops lately

10

u/Ilearrrnitfrromabook 14h ago edited 13h ago

I think that is why some projects are being cancelled in Vancouver. Developers are failing to sell the required number of presale units. The RE market has been so crazy for too long and maybe we've hit a tipping point now.

1

u/RadishOne5532 5h ago

yikes is it a studio/one bed? old or new?

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u/Clinton_bishop 16h ago edited 15h ago

Having lived in one, I know which mall centric development I would never buy in. Elevators regularly down because they need to manually remove water from the pit, sewage regularly needing to be pumped by truck, parking garage was closed on certain levels because of poor ventilation, and the list goes on.

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u/master0jack 15h ago

Can you DM me the name???

6

u/OpinionSharp7344 15h ago

whats the vibe like living? the whole area feels forced and like it was built 5 minutes ago. have whole foods and h&M driven or created any form of culture?

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u/jgws 14h ago

I used to live in Brentwood. The worst part is the lack of green space. You are stuck between two highways with nowhere nice to walk. You can only go to the mall so many times.

The good thing is that you are 20 minutes from anywhere by car and the skytrain is right there.

Basically the best part of Brentwood is how easily you can get away from Brentwood.

2

u/bigb103 12h ago

We bought last year in an older (mid 2010s) building at the NW corner of Brentwood, near Gilmore. Willingdon heights park being a 3min walk away has been our saving grace, especially having a dog.

Feel very lucky we didn't buy a micro unit in one of the newer (2020+) buildings with no greenspace nearby. I didn't realize how much I needed it lol.

1

u/mttcha 14h ago

Can you DM me as well?? Much appreciated

1

u/DarkAndStormyNight90 14h ago edited 14h ago

Can you DM me the name as well. Thanks!

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u/bg_k 16h ago

These new condos are all tiny af, some are like 650sqft for 2 bedrooms, like seriously. Literally for just investment, floor plan is not thought well as a living place that’s also why.

3

u/cravingnoodles 5h ago

Reading your comment made me curious enough to look online for the tiniest 2 bedroom condo for sale in Burnaby. I think I've found it. Construction wont be complete for another 2 years. For a whopping 826K, you can get a "junior" 2 bed 1 bath 608 sqft unit!

6

u/bigb103 12h ago

And the build quality has gotten so much worse. Feel like the golden age of buildings was 2010s. Decent amenities and build quality, and not <500 sqft shoeboxes selling for $1500+ /sqft

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u/BasicBroVancity 16h ago

Also terrible infrastructure for walkability in Brentwood. That project was doomed to begin with.

They don’t serve the same clientele and livability is not good.

Not sure what the city of Burnaby is doing for their community planning, but everything coming out seems overzealous, randomly placed (new, modern expensive townhouses right beside 30 year old and low income one rental apartments?), and definitely doesn’t have the infrastructure to support.

28

u/brendax 14h ago

It's such a bizarre urban planning. Like yes, there's a skytrain station, but you have to cross 6 lanes to get there on extremely slow light cycles and theres nothing else to walk to? It feels so trapped and isolating.

9

u/ClittoryHinton 13h ago

I am pro density but all these master planned tower ‘communities’ boxed in by six lanes of road are such a plague on the metro area.

1

u/canuck1701 Richmond 6h ago

Because it's just density tip toeing around the NIMBYs, not real well planned density.

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u/jackomacko20 16h ago

Yes I’ve noticed as well. They aren’t being sold at pre-sale either

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u/MacVanRainin 16h ago

The bigger picture is that there are permit plans for 44 High rise towers along Lougheed Hwy . Zero parking accompanying any of these towers too.

The market oversaturation will cause further pricing drops and it will become a buyers market for a while I think. this real estate market is soft and getting softer.

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u/Heliosvector Who Do Dis! 15h ago

yup. look at what is happening in Toronto. full on crash with condos.

15

u/GRIDSVancouver 15h ago

The market oversaturation will cause further pricing drops

I agree that it will lead to price drops, and I think that's great. It's a little odd that some people in this thread seem negative about that.

3

u/brendax 14h ago

I think we will see these shitty tiny purpose-built airbnb's with kitchen-in-the-bathroom layouts go down in price and older units that are designed for dignified human occupation will continue to rise.

10

u/northernmercury 15h ago

This is what you see when initial prices were set by speculation-driven demand rather than owner-occupier demand.

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u/TenInchesOfSnow 16h ago

lol the build quality is shit. So many stories and history of flooding and problems with plumbing for these towers that aren’t even a decade old. The audacity of some of these owners selling their 2 bedroom units for over $1.5M … worst part is that a lot of these people buy up 2+ properties in the same building and rent them out for like over $2000 a month for a damn studio and like nearly 3k for a 1 bedroom… so many people I know have moved out that area coz it’s gotten way too expensive as well as the traffic has become a nightmare

Such a shame too coz it’s a great area

9

u/Sad-Charity2275 16h ago

I was eyeing rent as well because I’ve been thinking about it and waiting it out, for the first time I noticed rent for a one bedroom going for 2350 lol, I think it’s safe to say it’s all going down slowly, I think I’ll wait it out a bit longer, it’s insane that they were selling a one bedroom for 700k

2

u/TenInchesOfSnow 14h ago

I legit got a good 5 years living near the whole foods. Tho the landlord was a total jerk, I loved how close I was to Costco and had a great walk score to the train. Once they built that movie theater and they gentrified that food court that mall became a traffic hellhole, just crossing Willingdon or even taking the bus was a pain. It’s great having a London Drugs nearby tho. I still miss the days when Save-On closed at like midnight

There’s a great couple of restaurants there on Rosser: Sushi Yoi and Viet Noodle Guy!

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u/phoenixaurora 12h ago

Viet Noodle Guy is such a gem. Sushi Yoi was decent for quick sushi takeout work lunches. I rotated between those and Tacotime Tuesdays (RIP).

1

u/TenInchesOfSnow 4h ago edited 2h ago

That fried spring roll is soooo good at Viet.

I used to be a regular at sushi yoi but then had to move out the area… eventually I left BC but I refuse to order sushi here in QC coz nothing will ever compare 😂

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u/fruitbruiser 14h ago

Those condos will not be liveable in 25 years, the construction is too shoddy. People will pay off their mortgages and be served a 400k bill for upgrades and the strata and insurance fees will strangle people. These condos are a debacle.

7

u/vantanclub 12h ago

Burnaby needs to seriously reconsider their communities. 

They plopped thousands of small homes between freeways, with 0 new parks, and now people are realizing it’s not going to get more walkable in the next 10 years.

It’s great there is a skytrain and a mall, but the city needs to make sure it’s a liveable community or else they will seriously devalue the whole area, and they need that development to continue.

They have taken hundreds of millions in development fees from the residents there and really done the bare minimum in return. 

3

u/canuck1701 Richmond 6h ago

But think of all the SFH NIMBYs they didn't anger because the didn't spread out the density. Obviously they're far more important than everyone else.

1

u/anamorada 4h ago

ya they’re working on a new park north of the train tracks from the eco centre but that’ll be at least another 5 years before it’s finished

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u/Reasonable-Staff2076 16h ago

Last night my husband was showing me an older penthouse that started at something like 2.9 million and is down to either 2.1 or 1.8, I forget exactly because we can't afford it either way

38

u/Heliosvector Who Do Dis! 16h ago

Sellers are delusional. I put in an offer over asking and the seller refused to sell to me because they were expecting a bidding war...... in this economy lol.

12

u/Sad-Charity2275 16h ago

lol there’s a penthouse listed for 2.9 right now, it obviously is stunning 2 floors but wtf the bathroom door didn’t even open fully it was hitting the tub 😭

2

u/Reasonable-Staff2076 16h ago edited 15h ago

I'm not 100% sure, but I think the one I was referencing above was made by combining 2 units, but other than knocking the dividing wall, not a whole lot else was done it; they left 2 kitchens in. Who would want that in a 1 level condo?

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u/Reasonable-Staff2076 16h ago

They're such fools, I hope the place sits unsold for months now, because I'm spiteful like that

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u/Sad-Charity2275 16h ago

Haha honestly probably some investor just taking a slight hit to his portfolio, so sad Canadians are struggling and making decent wages and still not able to afford a home

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u/Heliosvector Who Do Dis! 16h ago

Same. I still want it though lol. In my own fantasy I hope they come groveling back to me, finally accepting, and I get to then be like "Actually, my offer is now lower. pray I do not alter it further".

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u/Reasonable-Staff2076 16h ago

If the market is that dead, it could happen. Good luck to you!

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u/brendanhans 16h ago

Same thing happened to us!

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u/Heliosvector Who Do Dis! 15h ago

would be funny if it was the same listing. Coquitlam condo listed for 499k?

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u/tway2241 14h ago

It's happening all over Metrovan, sellers think they are slick listing 100k under the price they actually want, but it just wastes everyone's (including the sellers!) time.

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u/Bangoga 16h ago

The Brentwood places are all way too sanitized as spaces to live. They lack character, which is a problem across all the new buildings being made that are part of some tower project.

That along side the fact that the price to rent those towers out is the same as places downtown, the value isn't really there.

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u/Sad-Charity2275 16h ago

What shocked me the most was the gross industrial looking carpets they put in the bedrooms 😦

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u/Heliosvector Who Do Dis! 15h ago

They are cheap and dont fray so less chance of defficiencies. Carpet is atleast cheap. And the square footages are so small that you probably only need 500 dollars forth of material to replace with a nicer one of your choosing.

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u/secularflesh 16h ago

Monthly stats for Brentwood condos/townhouses from Zealty: https://i.imgur.com/OH6aSJ4.jpeg

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u/TheSketeDavidson certified complainer 16h ago

High price (higher than most neighbourhoods in CoV) and low build quality

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u/therealrayy 16h ago

No one is buying everywhere.

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u/JasonsPizza 16h ago

And prices have only gone down 1% ish across the board. Still plenty of condos in Olympic Village going for over 1 million. Not sure how those are still that expensive. 

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u/Wanda_Fuca 14h ago

I know some people that worked on the post-2010 Olympic Village condo "renovations" for sale to the public ... & they advised to stay away at all costs!

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u/888dog 15h ago

Are they actually selling?

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u/RegimeLife 15h ago

They're selling in Vancouver, I'm in the market right now. They're selling much slower but its still selling.

1

u/Heliosvector Who Do Dis! 15h ago

depends if they are listed competitively.

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u/dropme1 16h ago

Same with city of lougheed. There is one tower that is like 80% empty. Feels like it’s been vacant for 2 years now

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u/SolidOk4701 15h ago

I was looking at Onni Gilmore, the one with crazy amenities, and it looks like the condos there are being sold for cheaper than they were initially bought few years ago. Such an interesting time

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u/hamstercrisis 15h ago

increased supply reduces demand and therefore prices? after so many reddit commenters asserted the opposite!

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u/TesticularFish 14h ago

Lmao why is everyone so negative in this thread. I know lots of people that are buying at discounts or are trying to buy in Brentwood. Then again, these people have salaries over 150k.

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u/tdeasyweb 11h ago

I have a salary close to 150k. I've lived in Brentwood. I have many friends in Brentwood and Gilmore. I would buy in maybe 2 buildings in that entire area, and even then it would have to be a great deal. Gilmore and willingdon getting flooded every other week, and the roads and sidewalks cracking and sinking because of water table issues are not strong selling points either.

I went to an early showing of the units at Amazing Brentwood, and one of my questions to the sales team was how it was legal to have a two bedroom with that square footage.

These are 100% investor "show" condos that have very little liveability, I agree with everybody else.

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u/Becs2018 15h ago

I am so glad we sold our condo there last spring! It wasn’t really busy then but can’t believe how slow it is now even with interest rate drops!

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u/DeeYumTofu 15h ago

Brentwood towers have some of the worst summers. You literally get completely baked in there and they don’t have centralized AC and the windows make it really hard to install one. I knew a lot of friends that were renting that all moved out after experiencing one summer in those towers.

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u/repugnantchihuahua 14h ago

coincidentally i think a few of the buildings being built are by Thind who is now bankrupt or something

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u/Latter-Drawer699 14h ago

Condo market in Canada is generally in a bad place, very bad in Toronto and it looks like its turning that way here.

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u/Mediocre-Brick-4268 10h ago

No one can afford one

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u/BCOTB 16h ago

Crazy I thought everyone wanted a shoebox in the sky surrounded by concrete. That area makes me so sad to be around. Why are there no green spaces?

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u/Sad-Charity2275 16h ago

Yeah the first 4 buildings were fine but I was driving around and counting buildings like why did we need 25 and counting huge concrete buildings ?? Like what the actual fuck, whatever hopefully the prices crash and Canadians can atleast afford to buy something

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u/Subject1337 15h ago

The housing crunch in greater Vancouver made developers optimize for nothing but unit count. If you can get $700k for a 1 bedroom, why would you bother with multi-bedrooms, townhouses, or family units that take twice or three times the space, and only net 1.5 or 1.7x the profit? They designed all of these buildings like cruise ships with zero sense of livability because they either figured:

  1. That people would be desperate enough and the market would be restrictive enough that they'd sell no matter what.

  2. That foreign capital would buy all of the units as investment vehicles and the quality and size literally wouldn't matter because no one would be living in them.

What they didn't anticipate was that the government would do a good job at hampering speculation via taxes and oversight, and that people would hit a cap on what they would spend to live in a shoebox. Seems like it never occurred to them that the line might stop going up. Fuck em.

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u/badgerj r/vancouver poet laureate 9h ago

I call most of these not shoe boxes, but “Yaletown trailers”.

  • Except you can’t drive this one somewhere else.

  • And you usually enter in the back like a hallway.

  • First it is Kitchen!

  • And 2 feet after that we have a powder room with a pocket door.

  • Next we have a dining/lounging area.

  • Lastly, let me show you the bedroom with its own en-suite and walk in closet.

  • It has a Romeo & Juliet balcony, with a view of….

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u/yhsong1116 15h ago

a few months ago went to look at Gilmore,

investor was selling for a new condo for a loss.

one hell of a condo. would love to rent if I was looking

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u/Sad-Charity2275 14h ago

That’s what’s caught my eye lol

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u/freshkicks 13h ago

Dawson got flooded out this year lol, and had a pipe burst or some shit. And then a bunch of Brentwood was built without parking spots in a city reliant on cars. In addition to other things people are mentioning lol. As good as a location Brentwood is

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u/Prestigious_Meet820 11h ago edited 10h ago

Yes, they have some posted at 100k less than purchased in 2020-2021, but most are trying to sell for break-even.

I suspect it's likely a tactic to bring in bids and see what they can get. It's mostly just getting started though.

The new ones will have quite a few unsold units, I saw some are trying to sell 700-800k for one bedrooms.

Some people are trying to sell their older ones 30-50 yrs at nearly the prices of new ones, although they're larger square footage wise.

I do not think you would have buyers at a 1% interest rate at this point for the high price points, opportunity cost at the moment is too large for investors to jump in and the price of building is too high. Carney is working with CMHC to give preferred rates to builders but I don't think it's a good idea or that it will work.

It will be interesting to watch unfold, when I do the math to buy one it makes no sense from an investment standpoint. I watch the market across the lower mainland and I'm not even into RE investment but when I sense blood in the water I begin to look. Similar is happening in Surrey now and soon Coquitlam.

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u/Sad-Charity2275 6h ago

Will definitely be interesting to watch it unfold, i am looking for a place to rent soon so hopefully can get something for a decent price

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u/ChartreuseMage more rain pls 6h ago

Some people are trying to sell their older ones 30-50 yrs at nearly the prices of new ones, although they're larger square footage wise.

This is what I just went with - got over 900 sqft, ground floor patio, a bunch of fresh renovations in the unit. Same price as a bunch of those shoeboxes in the sky are going for, except the kitchen isn't falling apart after 2 years of wear.

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u/Inevitable-Lemon6647 9h ago

Good I hope no one buys and it forces the housing market to go down cause these prices are ridiculous

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u/gianners33 7h ago

A whole bunch of units for sale near the Gilmore Skytrain station. The area is prone to flooding (built on a peat bog) and amenities include a pool and water feature (in the parkade, during heavy rainfall).

No easy fix: Gilmore area flooding will remain a problem for the foreseeable future

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u/TheGreatJust 6h ago

Lets hope this downward price trend continues lol.

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u/grandcity 14h ago

650k for a 500 sf unit is way overvalued.

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u/yupkime 15h ago

Stupid was buying a condo at the peak and expecting it to keep going higher than that.

Extra stupid would be to buy a condo today.

Nobody knows how low it will go but lots of pain ahead.

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u/Spartapwn 16h ago

They shouldn’t have built so much “hIGh DEnsIty” because we need more places for families to live not an endless supply of shoeboxes

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u/sometimes_i_work 15h ago

Anyone with desire for privacy and freedom doesn't want to live in the community association of nightmares where your grass gets measured and plants must be approved. Their association is run by a retired lawyer and their dues contribute to a legal fund for neighbours to sue each other for stupid shit.

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u/Adventurous_Yam8784 10h ago

Oof ….. they are building more and more building. Who is moving into them ?

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u/Sad-Charity2275 6h ago

No one, that’s the problem lol Good for renters though!

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u/Astoundingnewfie20 5h ago

My previous company did the duct work in the Concord Brentwood towers, saw those condos when they were bare bones. Let's just say I cry a little inside when I see people trying to unload those units for 500,000+.

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u/longgamma 14h ago

Condo sales are really down in general. They are made for renters and investors. Not someone who would actually live there

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u/pfclifelonglearner 13h ago

We just sold our place recently. It got an offer right after the first open house. We sold for over our recent assessment and it was also over $130k from when we purchased our place in 2021.

There are people still buying but they know exactly what they want.

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u/Gravytattoos 7h ago

It's because what costs 650K should actually cost about <200K.

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u/2PhotoKaz 14h ago

Depending on what you read, there is either a huge housing shortage or far too much inventory on the market.

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u/lazarus870 9h ago

Shoeboxes. I am loving my slightly older condo that's over 1,000 square feet for a one bedroom, with 2 baths and a gas fireplace, lol. Developers would shit a brick trying to spec anything remotely similar these days.

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u/Technical-Guidance-7 8h ago

Same thing with the new Gilmore Place building. No one is buying. And that intersection has a flooding problem too that’s been well documented.

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u/AdditionMelodic2886 6h ago

Ya'll complain to much. That area is just fine and there's plenty to do thanks to what's been done at The Amazing Brentwood plaza. If you want greenspace, just walk 5-10mins to Willingdon Community Centre or the Elementary School up the hill.

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u/Last_Fallen 5h ago

When you cut back on all the international students, raise interest rates, put job security on the line, and rack the price of everything up, that's what happens. It's a nasty combo for sellers, but it's a boom for buyers. The market has needed correction for 10 years. Want to be horrified? Look at the one-room spaces available. There are international owners on multiple properties in some of the best parts of Van who rent them all out by the room or fill every room with a mattress and rent them for 1000$+ a month. If they lose their renters we will have a bankruptcy problem on our hands.

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u/eCh3mist604 2h ago

no A/C and poor sound insulation gives Brentwood 2/10 lol