Richmond BC Condos A recent CMHC Spring 2009 housing report confirmed over 80% of all new housing constructions in Greater Vancouver are consisted of multi-family units. Richmond plays a significant role in the supply of new condos to the Richmond real estate market. First time home homebuyers provide a strong base for new condo sales, and resale condos. The survey indicated that about 37% or over one-third of the sale transactions of resale and new home sales are bought by first time home buyers. The rapid development of the City’s downtown core since the 1990s and the current construction of Rapid Transit Skytrain will further enhance the rapid growth of Richmond. The City of Richmond is projecting the population for the city core to triple from the around 40,000 to 120,000. Changing Richmond Skyline Housing developers in Richmond are attracted to building townhouses and condos to meet the demand from home buyers. Entry level older "freehold" 1 bedroom Richmond condos are presently selling at a starting price around $150,000. Newer units are being sold at $230,000 to $280,000 range. The demand for condos in Richmond remains strong averaging around 150 units being sold each month. Major changes to the Richmond City downtown core planning envisage more higher density multi-family housing to be developed along the Skytrain transit corridor. Live in Richmond City Center and ditch your car! The City is planned to be a livable and walkable community with banks, shopping malls, super markets, restaurants and services all around you. A more walkable community is being planned and incorporated for the future expansion of the city core. There are some great assignment deals all around you in Richmond. Click here to learn more about assignment sale. In today's housing market when there are high inventory of condos for sale, presale sellers are having a tough time assigning their sale contracts to new buyers. There are some resale new condos that are costing less than assignment sale condos. You can view some of the newer concrete high-rise condos around the City Center here. Return to Homepage. |