With new legislation that requires an 80% vote to dissolve a strata as opposed to a 100% unanimous vote I’m starting to see listings on the MLS that have this built into their price as if it’s going to happen in the near future. People need to realize that it’s still quite difficult to dissolve an entire strata and sell it to a developer at a nice premium. The sale still needs to obtain court approval and any holdouts can state their case as to why they don’t want to sell.

In my opinion we are not going to see many strata's sold for at least another 10 years. It’s certainly nice to buy into a strata that’s sitting on a large parcel of land in a prime location however I would never pay a premium on that unit today for something that might not happen for decades.