“Developers must find a fresh financing formula as prices for shared hotel units in British Columbia prove a fiscal bust for investors”
- tagline for ‘Hotel condo prices plummet’, Business in Vancouver Magazine, 21 Feb 2012.
[Full article awaited; hat tip Clipper]
“The hotel/condo pricing article is completely correct. Prices at ‘Shangri La’ have been dropping 20-30 percent in the last year and now 2 units on the 2nd to top floor just came on the market at way under what anyone else in the building was asking and now other people have to lower their units at least 1 million to even be competitive.”
- jj at VREAA 22 Feb 2012 5:07pm
So perhaps the very, very high end is showing strain; albeit in a specific property line.