News/Press

Changing the Real Estate Development Landscape in Burnaby Amid Covid-19

For the past few months, the climate in Burnaby, British Columbia

and across the nation has been quite grim amid this pandemic. However, our community has come together, especially in Burnaby. Non-profit groups have expanded, and residents of Burnaby have reached out from afar, to help each other in need. Bima Properties would like to give their special thanks for all the front line workers, including grocery store clerks, police and firefighters and the all the levels of health care workers who have stepped in Burnaby to show their support. At Bima Properties, our community here in Burnaby is always the forefront of how we do our business.

During the pandemic, the well being of all of our staff, and contractors/subcontractors have been the centre of how our construction sites have operated when we re-opened again. Construction was halted for a while at the Lakeview 2 but has been going at a constant rate thereafter Phase II.  Being one of the major residential developers in Burnaby, BC, we want our city to prosper and grow, and help regulate our economy again by creating job opportunities. One very important factor to realize is that regardless of whether the economy is weathering a storm, it does not necessarily mean the market is under the same scrutiny. Most recently in Burnaby, we have seen an uptake on listings and sales. Some listing are receiving multiple offers. Most recently, an online real estate platform ‘Better Dwelling,’ just published an article on July 7, 2020,

“Greater Vancouver Real Estate Prices Peaked In March

The price of a typical home across Greater Vancouver is higher than last year, but down from a month before. The benchmark price of all home types reached $1,025,300 in June, up 3.5% from last year. In the City, Vancouver East saw the benchmark reach $1,083,300, up 5.0% from last year. Vancouver West is also higher with prices reaching $1,272,400, up 4.9% from last year. Important to note that all three of these markets are lower in price from the month before.

*All Sources were taken from Better Dwelling*

Also, for some exciting news, we were able to add new faces to our design team and create an array of unique elements which will be featured at the Lakeview 2.

Some very unique elements that are rarely in Burnaby Duplexes will feature: