Zero Concrete Launches in Q1: Metro Vancouver’s Highrise Pipeline Just Froze Solid

Metro Vancouver’s concrete highrise segment ground to a halt in the first quarter of 2026, with zero new project launches compared to 152 in the same period last year, according to data from Zonda Home Canada. The complete freeze in concrete construction—typically preferred for its sound insulation, views, and proximity to transit hubs—marks a dramatic contraction in the region’s presale market. Developers are finding it impossible to hit the 60 to 70 per cent presale targets generally required by lenders to unlock construction financing, leaving planned towers in limbo despite strong underlying demand for housing.

The drought extends beyond concrete towers. Townhome launches also fell sharply to 334 projects in Q1, down from 507 a year earlier, as the entire presale ecosystem struggles with absent investors and rising standing inventory. There were 3,945 completed but unsold condos across the region at quarter-end, creating a logjam that developers must clear before new projects can move forward. Higher interest rates and provincial policies restricting short-term rentals and speculation have driven investor capital toward stocks or purpose-built rental assets, stripping the presale market of its traditional buyer base.