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yesterday

Allure Ventures Introduces BuyBack and RentBack Program for Surrey Condo Project

The initiative offers financial security and rental income to reassure buyers in a volatile presale market, launching May 31 at the 32-storey SkyLiving tower.

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Overview

  • Allure Ventures' SkyLiving project in Surrey will feature a BuyBack and RentBack program starting May 31, 2025, aimed at reducing buyer risk in the presale market.
  • The BuyBack Advantage allows buyers to sell their units back to Allure at the original contract price, excluding taxes and fees, if market values drop.
  • The RentBack Advantage provides buyers with two years of rental income equivalent to 20% of the unit's purchase price, with Allure managing tenants and maintenance.
  • SkyLiving, a 375-unit, 32-storey condo tower near UBC and SFU Surrey campuses, is set to complete in 2027.
  • The program comes as Metro Vancouver faces over 4,480 unsold presale units, with developers adopting creative strategies to counteract economic uncertainty and declining valuations.