Are you thinking about buying a presale condo in Vancouver?
Presales can seem like a dream opportunity: brand-new homes, time to save, and early access to growing neighbourhoods. But recent headlines tell a different story—cancelled condo projects, developer insolvency, and buyers left in limbo.
As a local real estate agent, I’ve guided clients through both successful and failed presales. And today, I’m giving you the real deal on what’s happening in Vancouver’s presale market—and what you need to watch out for.
Vancouver Presale Projects in Trouble
Here are three real-world examples that show why caution is crucial when buying a presale home:
Curv Tower Receivership – Downtown Vancouver
Marketed as the tallest passive house in the world, the Curv condo tower is facing receivership, and construction is uncertain. Buyers who paid deposits are left wondering what happens next.
Developer Using Creative Ways to Incentivise Buyers in a Challenging Presale Market
A Surrey condo developer is offering buyers a choice of a guaranteed buy-back or rent-back program on new presale condos to boost sales and reduce buyer risk in a slower market.
Read More → Vancouver Sun
Luxury River District Project Cancelled Due to Market Conditions
A luxury presale development in Vancouver was cancelled entirely due to rising construction costs and weaker demand.
Read More → CTV News
These stories underscore a growing concern: buying a presale condo in Metro Vancouver isn’t as safe or simple as it used to be.
Why Buyers Still Love Presales
Presale condos can offer smart advantages:
- Lower deposit requirements (5%–20%)
- More time to save before closing
- Brand-new construction with modern finishes
- Early access to growing neighbourhoods
- Potential price appreciation during the build
But in today’s market, these benefits come with bigger risks—and it’s my job to help you understand both sides.
The Real Risks of Buying a Presale in Vancouver
Here’s the real deal—the top risks you need to evaluate before signing a presale contract:
1. Market Risk
If property values fall before your unit completes, you could owe more than your home is worth. This can lead to financing issues or even a loss if you try to resell.
2. Financing Risk
You don’t finalize your mortgage until the build is complete—sometimes 2–5 years later. Changes in interest rates, income, or lender policies could impact your ability to qualify.
3. Developer Risk
If the developer runs into financial trouble or delays, they may cancel the project, alter unit specs, or go into receivership (like Curv). You could lose time—and possibly your deposit.
4. Rising Closing Costs
GST, legal fees, strata fees, property taxes, and adjustments can all increase during construction. Most buyers underestimate these costs.
5. Reduced Flexibility
Presales lock you in for years. If your life changes (job relocation, family needs, financial hardship), you may be unable to walk away without serious consequences.
How to Protect Yourself When Buying a Presale
As your REALTOR®, here’s how I help you navigate presales safely:
- Work with proven, reputable developers
- Use a lawyer to review the contract
- Understand your deposit protections (REDMA)
- Plan for financing changes and market dips
- Know if assignment (resale before completion) is allowed
- Stay informed throughout construction
I don’t just help you buy a home—I help you make a smart investment. I will give you the real deal.
Final Thoughts: Should You Buy a Presale Condo in Vancouver?
Presales can still be a great way to get into the market—if you know what you’re getting into. But in 2025’s unpredictable real estate climate, it’s more important than ever to buy with your eyes open and your strategy locked in.
If you’re thinking about a presale, let’s talk. I’ll walk you through the real risks, potential rewards, and whether it’s the right move for you.
Book a no-pressure consultation today. Whether you buy presale or resale, let me help you with your next move!