Recently there was an announcement that a condo development planned for the Town of Stratford would not happen. The developer cites that potential purchasers could not sell their homes. This is an odd statement that doesn't seem to have any proof...Now I am not calling anyone a liar but in my own personal opinion that no potential purchasers of this condo were willing to put their property on the market until the project started. I did not know who all the potential purchasers were but a project of this magnitude takes awhile to construct so purchasers with homes to sell would normally not want to risk selling their present home until they knew where they were going.
We act as listing agents for various condos in the Charlottetown area and although they are not sold out...interest is still ongoing and steady. Due to condos being "recently" started in PEI...it is still somewhat a unique way of buying real estate for residents of PEI who have not had experience in this style of ownership.
It is unfortunate that this development is not moving forward and as stated I dont know all of the facts but it is interesting to note that on the headlines of www.cbc.ca/pei of the story of this condo project stopping..the next story is "Housing Starts Rise In June 09"
If you are looking for condo ownership go to our condo search page at www.condos21.com