Vancouver Pre Sale Condos- Sold OffShore, Flipped Locally

As the focus shifts from the single family market to condos the crunch to enter the market has never been more fierce. Bidding wars are ravaging anything that resembles four walls and a roof. To make matters worse, record supply under construction is being largely sold offshore. Similar to a Ponzi scheme, pre sale condos are sold to offshore investors who sometimes buy multiple units at a time and later assign or “flip” to local buyers at an even higher cost.

Here is the current number of assignment sales listed on the MLS.

Inventory of assignments
Inventory of assignments for sale on the MLS

This was exposed last summer by Kathy Tomlinson but in recent months has become even more glaring. Since the introduction of the foreign buyers tax, which has deflated the luxury house market, the attention has shifted to pre sale condos. Pre sale condos are exempt from the 15% foreign buyers tax, and have no doubt become a very attractive investment. Further, once assigned to a local buyer at a higher cost, it’s easy to avoid capital gains tax as nothing ever registers in land titles office.

It’s the perfect speculative system. Pay deposit increments of 5%, if the market tanks, one simply walks away from the 5, 10, or 15% worth of deposits. If the market continues to boom you flip it for an easy profit and dodge capital gains tax. Good luck tracking down an international buyer living in China, they are long gone.


  1. Notice: Undefined variable: user_id in /home/ on line 167
    vurtil opmer

    Thanks for this post, I am a big fan of this internet site would like to keep updated.

  2. Keep up the superb piece of work, I read few content on this web site and I conceive that your weblog is rattling interesting and contains lots of fantastic info .

  3. I went over this site and I believe you have a lot of superb information, saved to favorites (:.

  4. I love the efforts you have put in this, regards for all the great blog posts.

  5. Notice: Undefined variable: user_id in /home/ on line 167

    I truly appreciate this post. I have been looking all over for this! Thank goodness I found it on Bing. You have made my day! Thx again

  6. I think you have noted some very interesting details, thanks for the post.

  7. An interesting dialogue is price comment. I think that you must write more on this topic, it won’t be a taboo topic but typically persons are not sufficient to talk on such topics. To the next. Cheers

  8. Notice: Undefined variable: user_id in /home/ on line 167
    click here

    I’ve learn a few just right stuff here. Definitely value bookmarking for revisiting. I surprise how much attempt you place to make this type of fantastic informative website.

  9. Notice: Undefined variable: user_id in /home/ on line 167
    this link

    I take pleasure in, cause I discovered exactly what I was taking a look for. You have ended my four day lengthy hunt! God Bless you man. Have a great day. Bye

  10. I wish to express appreciation to you just for bailing me out of this crisis. Right after checking through the the net and finding suggestions which are not beneficial, I thought my life was gone. Existing without the solutions to the difficulties you’ve fixed through the blog post is a crucial case, and those that might have in a negative way affected my entire career if I hadn’t come across your web site. The expertise and kindness in handling all things was excellent. I am not sure what I would have done if I had not come across such a solution like this. I can also at this moment look ahead to my future. Thanks very much for your skilled and amazing help. I will not hesitate to recommend the sites to any person who needs care about this area.

  11. Notice: Undefined variable: user_id in /home/ on line 167

    I think this is one of the most significant info for me. And i am glad reading your article. But wanna remark on few general things, The web site style is perfect, the articles is really excellent : D. Good job, cheers

  12. Deference to article author, some superb selective information.

  13. Youre so cool! I dont suppose Ive read something like this before. So good to search out somebody with some unique thoughts on this subject. realy thanks for starting this up. this website is something that’s needed on the internet, somebody with a bit of originality. useful job for bringing something new to the web!

  14. Notice: Undefined variable: user_id in /home/ on line 167

    You had a good news daily. Thanks


Please enter your comment!
Please enter your name here