Burnaby Presale Condos – New Developments in Burnaby
This city has a huge variety of Burnaby presales and is the third largest city in Metro Vancouver after Vancouver and Surrey and is one of the largest cities in British Columbia. Pre sale condos Burnaby has to offer below are current for 2023 and are updated weekly. Read more…
Burnaby has undergone dramatic changes over the past decades going from a semi-rural suburb of Vancouver to a large urban city in its own right with a large selection of pre sale condo options. Due to its pro-growth political culture and large amount of developable land, Burnaby presale condos are often more numerous than neighbouring Vancouver
The City of Burnaby Information
Geographically, The City of Burnaby is located directly to the east of Vancouver and is one of the earliest suburbs in the region. Burnaby is geographically located on the south shore of Burrard Inlet.
It borders the Fraser River to the south and East Vancouver to the west along Boundary Road. Burnaby borders New Westminster to the southeast and Coquitlam to the east as well as Port Moody to the northeast.
Rural Beginnings for Burnaby
Burnaby was originally incorporated as a municipality in 1892 and was officially established as a city in 1992. Long before high rise presales condos in in Burnaby where a thing, this area started out as a heavily forested agricultural suburb of initially New Westminster and then Vancouver as the latter overtook the former to become the main city in the region. Either way, from Burnaby’s earliest beginnings, it has always been a popular place for a new home.
Suburban development started in Burnaby in the 1930’s and dramatically accelerated in the decades after the second world war. Larger more affordable single family houses drew people to Burnaby turning the city into a bedroom community for those commuting to neighbouring Vancouver.
This process was accelerated with the construction of the Trans-Canada highway in the mid to late 1950’s which replaced Kingsway as the major traffic artery of Burnaby. Most residents lived in single family houses in Burnaby during this period and commuted to jobs in Vancouver or elsewhere in the region by car leading to ever greater traffic congestion and pollution.
Pre Sale Condos Burnaby & Skytrain Create a City
The arrival of Skytrain’s Expo Line in 1985 with stations located at Patterson, Metrotown, Royal Oak, and Edmonds at Highgate (formerly Middlegate) began the shift from Burnaby being a car based commuter suburb to a higher density City relying on transit to move commuters and others. The Expo Line stations were followed by the Millennium Line Stations starting 2003 at Gilmore, Brentwood Town Centre, Holdom, Sperling-Burnaby Lake, Lake City Way, Production Way-University (SFU), and finally Lougheed Town Centre.
The expansion of the Skytrain network allowed Burnaby to shift away from car based urban commuter sprawl with its related issues of every increasing traffic and pollution. The new model allowed for continued population and job growth in Burnaby without using more land, building more roads or freeways, or creating as much pollution.
This new system of land development focused on dense urban development with nodes of concrete towers with high walkability and quality of life near parks and more importantly near malls or other shopping. The process also included a large amount of office and commercial development to situate jobs near transit and housing to increase walkability in around these nodes and reduce the reliance on cars and long distance commuting.
This process of densification started with Metrotown which had a pre-existing mall that was expanded and saw large scale commercial office tower bringing jobs and residential condo tower construction that were sold as pre sales. This model of development then expanded and was repeated along the Expo Line to see major condo developments next at Patterson Station (again sold as presales) and at Edmonds Station with the Centre Point condo development and BC Hydro’s new headquarters which brought a large number of jobs.
Density at Malls + Presale Condos Burnaby = Vancouverism Bliss
With the completion of the Millennium Line Skytrain we saw a continuation of this model of high density job, housing, and amenity rich development primarily developed with pre-construction sales of condos with The City of Lougheed and Amazing Brentwood at these Stations. Since then this form of job and housing rich type of development with lots of condos sold as presales near amenity spread across Burnaby. This type of development is often referred to as Vancouverism and has high quality of life with walkable areas with parks, shopping, entertainment coupled with high density living.
Burnaby currently has nodes of dense urban condo development within walking distance of Skytrain stations and malls like Metrotown, Amazing Brentwood, and City of Lougheed or along major thoroughfares like Kingsway, Hastings, or Lougheed Highway. Most of the condos in these areas were sold a pre sales and almost all new market housing is sold as such. The rest of Burnaby is made up of single family or townhouse neighbourhoods, with some purpose built three and four story walk up rental apartments.
New Developments in Burnaby – The Rise of High-Rise Communities
- Community Living: The demand for community-style living in high rises is on an upward trajectory. These communities offer a blend of modern amenities, connectivity, and a sense of belonging, making them a top choice for many.
- Investment Opportunities: With the steady rise in demand, high-rise condos in Burnaby present lucrative investment opportunities. Investors can expect good returns, especially given the city’s economic stability and the influx of immigrant money, primarily from Asian countries.
Pre Sale Condos Burnaby = Growing Urban Population
Burnaby’s population continues to grow and see ongoing urban development and currently is the third largest city in BC by population with 249,755 residents and has seen a 7% increase since 2016 according to Burnaby’s 2021 Census Data. In terms of Canadian cities, Burnaby is fast growing, though not as fast as some other areas of Metro Vancouver. This ongoing population growth is one of the major contributors to the steady demand for the pre sale condos Burnaby has to offer both owner occupiers and investors.
Renters in Burnaby
Understanding the renter demographics in Burnaby can offer insights into the presale condo market:
- Financial Stability: A significant portion of renters of new condos in Burnaby come from financially stable backgrounds, often with dual-income households. This stability makes them ideal long-term tenants for condos.
- Influence on the Market: The financial stability of renters, combined with Burnaby’s high median income, fuels the real estate market. It ensures a steady demand for new condos, both for purchase and rent.
Burnaby Has Urban & Natural Amenity
Burnaby’s natural and urban amenity is enviable.
Burnaby has ocean to its north, a river to the south and the North Shore mountains with views of all of these visible from many parts of the city. Many of the high rise presale condos Burnaby currently has for sale have views such as these.
Burnaby has two major lakes Burnaby Lake and Deer Lake, both of which allow boating and are surrounded by large forested parks. Central Park near Patterson Station is one of the larger parks in the region at 220 acres and features a large temperate rain forest. Central Park is easily walkable from many of the new presale condos Burnaby has on offer. The city designates 25% of its land to parks and open spaces and it impressively has one of the highest park land to citizen ratio in North America.
Urban amenity in Burnaby is a major regional draw. Metrotown is the third largest mall in Canada with a large selection of shopping, dining, and entertainment venues. Lougheed Town Centre & Amazing Brentwood also offer a great selection of similar options. Simon Fraser University atop Burnaby Mountain is one of Canada’s top universities and BCIT offers top vocational and employment ready education. Riverway Golf Course & Driving Range near the Fraser River is a golfers dream as is Burnaby Mountain Golf Course.
Pre Sale Condos Burnaby – Our Clients Experience
This high level of amenity is a major draw for future home owners and investors looking for pre sale condos in Burnaby.
Our clients who have purchased new development condos in Burnaby have been very happy with the price appreciation over the last few years as well as the increase in rental income.
We expect this experience to continue due to Burnaby having a large amount of developable land and a City Council open to creating new housing and new construction homes.
Burnaby New Condo Prices
Burnaby has seen significant price appreciation in line with the cities transition from a suburb to a city in its own right. Burnaby new condo prices are also being pushed up by inflation in land prices and construction costs. As of 2023, starting prices for presale condos start from around $1300 to $1400 per square foot and go up from there. To get the latest of Burnaby new condo pricing, please have a look at the REBGV Stats.
Burnaby Condo Market Analysis
Burnaby’s condo market has witnessed a significant transformation over the years. With the increasing demand for high-quality community-style living, especially among millennials and young professionals, the city has seen a surge in planned communities.
- Shift from Downtown: Many buyers are transitioning from Downtown Vancouver to Burnaby, seeking more affordable yet quality living spaces. Areas within Burnaby, such as Edmonds, are becoming increasingly popular.
- Investor Preferences: Investors are showing a keen interest in 1-bedroom plus den and 2-bedroom condos. These configurations are selling rapidly in the current market for Burnaby new construction homes. On the other hand, the demand for 3-bedroom condos is witnessing a decline, aligning with the trend of smaller family sizes.
- Economic Stability: Burnaby’s median income ranks among the highest in the region, contributing to the city’s economic stability. This robust economic backdrop naturally propels the real estate market, especially the condo segment.
- Continuing Popularity with Asian Buyers – Metrotown new developments are extremely popular with buyers from Asia. Metrotown has amenity catering to all cultural groups, but some of the best Asian restaurants and other amenity in the region.
Burnaby Presale FAQ
We work with a lot a of Burnaby presale buyers and these are a sampling of the frequently asked questions that we are more than glad to answer.
Q1: What are pre sale condos?
A1: Pre sale condos are properties that are available for purchase by putting down a deposit before the construction is complete or even begun. Burnaby presales tend to be larger concrete towers near Skytrain and malls. To learn more before buying a presale Burnaby has to offer, please check out our page on what is a presale condo.
Q3: How much does a realtor get paid for a presale condo in Burnaby?
A3: Realtor commissions for presale condos can vary. They are typically paid by the developer and are factored into the purchase price of the condo. Realtors are required to disclose their commissions fees in writing to their clients. To learn more check out our page on how Realtors get paid on presale condos.
Q4: What is the 7-day rescission period?
A4: The 7-day rescission period is an protection for buyers of presale condos in Burnaby and across British Columbia. After signing a contract for a presale condo, buyers have seven days to reconsider their decision and back out of the contract without penalty. Check out our article on what is the 7-day rescission period in BC.
Q5: What are the advantages of buying in presale condos Burnaby?
A5: Presale condos in Burnaby offer buyers high quality urban amenity with access to Skytrain without the high prices associated with such markets as Downtown Vancouver. Burnaby has also been experiencing significant population growth which have been pushing up prices. And finally there is a very wide selection of Burnaby presales due to availability of developable land and a pro development local government.
Q6: What are the disadvantages of investing in presale condos Burnaby?
A6: While presale condos in Burnaby offer many advantages, there are potential downsides. Presales in Burnaby have become quite expensive to the point where these projects are more for owner occupiers rather than investors. Burnaby like everywhere may not be for everyone.
Q7: How can I stay updated on the latest Burnaby presales opportunities?
A7: Feel free to call us at 604-265-9356 or join our VIP Presale Condo email for Burnaby presales list to received weekly emails on new Burnaby pre sale condos before anywhere else. Here is a link to our VIP email list. You can also click the yellow button at the top of the page for access to our email list.
Q8: What support does Vancouver New Condos offer for Burnaby presale condo assignments?
A8: Our experienced team is well-equipped to serve clients interested in either purchasing or selling Burnaby presale condo assignments. We provide comprehensive support throughout the process, ensuring a smooth transaction. Please contact us at the number above.
Q9: Where can I find Metrotown Pre-sales?
A9: We specialize in and have a dedicated page for Metrotown pre-sales. On this page you will all the latest presales on offer in Metrotown, plus information on the area as well as an FAQ.
Q10: Can you get a Warranty on a Burnaby Presale?
A presale condo in Burnaby like each and every new home across British Columbia is covered by the 2-5-10 Warranty that is overseen by the provincial government.
Burnaby is divided into four quadrants – SW, SE, NE, NW – with the South West quadrant, which is home to Metrotown Town Centre being the largest in the city. Presales can be found in each quadrant in both wood frame and concrete construction.
Historically and culturally, Burnaby was divided geographically as North Burnaby, South Burnaby, Burnaby East, and West Burnaby. These older ideas of Burnaby neighbourhoods can be seen in park names like Wesburn Park for West Burnaby, or with schools like Burnaby North and Burnaby South.
Each quadrant offers its residents their own complete communities with town centres that provide a full range of amenities, accessible rapid transit, access to the Trans-Canada highway, and bike routes. Each of these quadrants have great options in terms of the pre sale condos Burnaby has to offer.
- The South West quadrant is home to Metrotown Town Centre
- Home to the largest mall in BC – Metropolis at Metrotown – over 400 stores
- Enjoy remarkable views of the city during the day or night from Deer Lake Park
- Accessible travel via Metrotown SkyTrain station & multiple bus routes
- The South East quadrant is home to Edmonds Town Centre
- Accessible travel via Edmonds SkyTrain station & multiple bus routes
- Edmonds Community Centre – swimming, fitness classes, gyms, programs & events.
- The North East quadrant is home to Lougheed Town Centre
- Burnaby Lake Regional Park is a great place for bird watching, hiking, horseback riding, canoeing, kayaking & rowing.
- The main SFU campus was established in NE Burnaby
- Accessible travel via Lougheed SkyTrain station & multiple bus routes
- The North West quadrant is home to Brentwood Town Centre
- The main BCIT campus was established in NW Burnaby
- Accessible travel via Brentwood Town Centre SkyTrain station & multiple bus routes
Please contact us with any questions you may have about new developments in Burnaby.