Oleg Galyuk, real estate agent with Royal Pacific Realty, said in his experience older condos tend to sell better than pre-sale condos.
"The new inventory tends to sit on the market," he said.
He said the layouts of some of the new homes are one reason for lack of buyer interest, as well as a lack of parking spaces that are harder to sell and rent.
Galyuk said developers are throwing out a variety of incentives to get people to buy built units.
"They're throwing in parking stalls. They're throwing in storage lockers. They're giving cash-back on completion."
He said he thinks some developers have put too many eggs into the "investor basket."
"Right now, a lot of condos [are] coming online that people don't really want to live in."
Says it all really