CondoExpo Vancouver Showcases BC’s New Developments
What does Canada's first CondoExpo mean for new development in BC?
Vancouver’s real estate market has been in flux this year, with the predicted rises and falls eventually pointing to the same conclusion: we are entering a buyer’s market.
While some see this as a challenge to manage in the upcoming months, Cam Good of Key Marketing sees it as an opportunity to engage with buyers, starting by bringing CondoExpo to Canada for the first time.
CondoExpo is a one-day exhibition, where BC’s best condo projects are showcased to the public all in one place. The inaugural event took place in the Parq Marriott Vancouver hotel, and featured projects from some major developers!
Bringing together Vancouver New Development
Developers, project marketers, and software providers gathered in one of the grand ballrooms at the Parq Marriott, and spoke to buyers throughout the day. Tickets and invitations had been sent to realtors from all around BC, encouraging them to bring clients in to view the projects, and many members of the public saw advertisements and came in to the exhibition to see as well.
Projects included The Windsor by developer Imani, an upcoming development in the heart of Vancouver, which takes advantage of elevated ground to create stunning views of the downtown skyline—a rare find along the typically low-rise neighbourhood of Kingsway. The build is a continuation of Norquay Village, a master planned community with a rich collection of walkable shops, services, amenities, and access to other transit.
The Norquay Village is also the site of Acorn, from developer Citrine Homes. With spacious homes in a family-friendly community, modern architecture, and a streetscape designed to showcase nature and fresh air, this build invites residents to let life ‘take root’.
On the other side of Vancouver, developer Centred introduces beautiful West Coast-inspired architecture with Park Grand. Centrally located with easy access to amazing communities in all directions, the luxurious townhomes bring a sense of grandeur with tons of natural light and modern finishings.
In addition to these projects and many others, CondoExpo exhibitors also included notable brokerages and marketing agencies such as Pezzente, Miller Wark, and organizer Key Marketing. There was plenty to explore!
Industry Trends with Industry Experts
For the many realtors who attended, CondoExpo was a great time to get in touch with other industry professionals, explore services and technology, and attend one of the panels on industry trends. There was even a VIP lounge for realtors, where they could grab a coffee or an energizing bite to eat!
New development focused services and tech can feel few and far in between, but there were several at CondoExpo, including Spark (sales and marketing tracking and CRM), Unison (home investment assistance), and Tenix (property management). These vendors gave realtors the opportunity to explore some options for selling new development real estate, client services, and even down payment advice that they could pass on to their buyers.
CondoExpo also offered panels with experts, giving realtors a chance to explore the impact of technology and design on the real estate market, and providing potential buyers with an opportunity to learn more about the industry.
The panel on tech suggested that technology takes power away from institutions, by placing access to information in the hands of the people. Technology makes it easier to buy and afford homes, giving buyers more options as well as reinventing the way that long standing processes such as investment and mortgaging is done. Overall, technology creates a shifting paradigm that opens new ways of thinking and creates more opportunity for buyers — and developers.
The Future of Condos in BC
Exhibitions like CondoExpo used to be far more common.
In recent years, with housing markets in flux across North America, it’s been uncommon for developers to showcase projects in this way. But as BC moves into a buyer’s market, it’s important for the real estate industry to continue to demonstrate its growth and continued evolution.
The value of events like CondoExpo is to show buyers the movement in the market, helping to build positive buyer sentiment and grow confidence. Public sentiment in particular is vital to the housing market, and especially new housing—enough confident presale purchasers literally make the difference between a project being cancelled and successfully going ahead into construction.
Turnout was amazing at the inaugural CondoExpo, and buzz was exciting and positive. Cam Good and his team are already planning more in Vancouver, and have plans to expand to Hong Kong, Montreal, and Toronto in 2020 and beyond!
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