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Red-hot condo market: buyers snatch up nearly 90% of units at Chinatown condo dev

595 Pandora, situated in the 500-block of Pandora Avenue, moved most of its inventory during a one day sales event held last Saturday. The project's showroom, scheduled to open this Saturday in the building's ground floor, will market an exclusive collection of luxury residences located on 595's top floors.  Citified.ca

Red-hot condo market: buyers snatch up nearly 90% of units at Chinatown condo dev
MIKE KOZAKOWSKI, CITIFIED.CA

595 Pandora’s Saturday condo sales event resulted in a near sell-out as buyers flocked to secure homes at the Chinatown development.

Nearly 90% of the 53-suites were sold within just a few hours.

“I’ve never seen anything like it,” said developer Stan Sipos.

“We sold out of all studios, one-bedrooms, junior one-bedrooms, junior two-bedrooms and three of our top floor homes, and I'm still getting calls asking about availability.”

Sipos attributes the project’s reception to timing, desirability of inventory and a unique attribute that made 595 Pandora stand out among the competition.

“Buyers overwhelmingly cited our move-in ready status as a key motivator behind their decision to purchase. The location, the zoning and unit layouts drew tremendous interest, but what ultimately resonated was a nearly completed building,” Sipos said.

Cielo’s marketing efforts will now switch gears to focus on 595 Pandora’s exclusive collection of penthouse and two-bedroom urban homes, referred to as the City Collection.

“Our City Collection represents some of the most unique residences in downtown Victoria. With one and two-level layouts ranging between 950 square feet to just over 1,400 square feet, we’re excited to present buyers in the luxury market with a limited offering of boutique condominiums just weeks away from completion,” said Sipos, adding that interest in 595’s remaining homes continues to be incredibly strong.

“We’ve really dialled up the finishes on the upper floor homes. From German appliances with 36-inch fridges and five burner gas ranges, to engineered wood floors and gas fireplaces, we had to ensure that the interior finishes were top notch. What buyers won’t expect is how much outdoor space the upper floor homes have. You would be hard pressed to find a downtown home with this kind of outdoor entertaining space – the patio’s make these homes extremely unique.”

595 Pandora’s show centre will open this Saturday in the 500-block of Pandora Avenue. Home buyers interested in learning more about the project or wishing to schedule walk-through opportunities with the sales team, are asked to register with Cielo Properties by visiting 595 Pandora’s website at www.595Pandora.com/register. C

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