River Green, The massive planned housing development advertised as Richmonds ‘very own coal harbor’ sold out this weekend, setting a new record for Richmond presales.
The biggest purchase was by a family who bought four suites valued at $5 million. Four penthouses also sold on the opening weekend at over $3.4 million. The 150 condo complex set Richmond sales records for individual condominium sale price and price per square foot.
Condo developer George Wong says this proves the once down and out real estate market is back. “It does set the tone for Lower Mainland real estate strengths. Certainly hope this is a shot in the arm for real estate in the province.”
The 28-acre luxury waterfront community is expected to take 15 years to build.
In fifteen years those buyers will either be thrilled they bought now before they were priced out forever, or potentially not so thrilled if the housing market fails to thrive. You’re going to have to wait 15 years to find the answer to that one.