With more and more noise in the news lately about falling sales and prices in the Vancouver real estate market developers are getting creative.
When even the real estate industry predicts prices to be lower in the future how do you sell new condos?
How about offering a $100k price drop guarantee?
Crabman points out that’s what the Kimpton in North Van is offering.
It’s not entirely clear how it works, but lets assume they don’t mean that they guarantee prices will drop $100k in the next two years.
“New guaranteed prices are what you will pay today and are net of the $100,000 price protection guarantee provided by the developer and registered on the title on closing”
Here’s the ad:
And here’s a shot of the sign currently on the building exterior:
This is certainly an interesting alternative to the many stealth price drops that we usually see: free car, etc.
What do you think? If you’re looking to buy but concerned about falling prices would the price drop guarantee make you more willing to purchase?