A property investor recently walked into the marketing office for a Surrey, B.C., condo tower and asked to purchase 100 units.
Marketer Vince Taylor couldn’t completely fulfill his wish, because one person owning one-quarter of the units in a building would present challenges for a strata council. But it wasn’t anything unusual, he says. The investor market is thriving, in large part because an influx of millennials is fuelling both the rental and purchasing markets.
“There’s an appetite in the investment community to purchase as many units as they can get,” says Mr. Taylor, partner with Platinum Project Marketing.