BCBusiness
Buyers can sign an agreement for Allure to repurchase the home at the original contract price, minus fees and taxes.
Amid ongoing trade wars and policy changes, British Columbians are watching the housing market to see how buyers and sellers are reacting to a continually turbulent economy.
According to the most recent monthly report for April 2025 from the British Columbia Real Estate Association, buyers in B.C.—notably in the Lower Mainland—are still hesitant to buy, with both residential sales and average prices down compared to the same month last year.
In the face of this market uncertainty, Vancouver-based real estate developer Allure Ventures is offering buyers a fail-safe with a new pre-sale initiative never before seen in the province: a buyback and rent-back program called “The Allure Promise.” The developer is hailing the program as the “first-of-its-kind” in B.C.
“The Allure Promise gives buyers something that’s been missing: clarity, flexibility and certainty,” said Mohamed Mansour, Vice-President of Sales at Allure Ventures, in an email to BCBusiness. “It’s about backing our homes and communities in a way that helps people move forward. No one else is doing this, and that’s exactly the point.”
The Allure Promise is twofold: the BuyBack Advantage or the RentBack Advantage.
Starting on May 31, those purchasing a unit at Allure’s new high-rise development, SkyLiving, in Central Surrey will have the option to sign a second agreement where Allure agrees to repurchase the home at the original contract price, minus any fees or applicable taxes (the BuyBack Advantage). Alternatively, those keen to lease the unit they buy can sign an agreement whereby Allure will lease the unit back from them which would return an equivalent of 20 percent of the original purchase price over a 24-month period. The property would be managed by an Allure-approved firm (the RentBack Advantage).
Right now, the Allure Promise is only available for its SkyLiving development, but Allure isn’t writing off the possibility of expanding the program if it’s successful. “At Allure Ventures, we’re always looking ahead and we’ll continue to meet the needs of each market with meaningful, buyer-focused solutions,” Mansour noted.
There will be a time contingency associated with the program, but Allure says those details will be “clear and straightforward” when the fine print gets ironed out in the contract. “Buyers sign the BuyBack and RentBack agreements when they purchase, and closer to completion they’ll confirm which option they’d like to use,” Mansour said. “Both programs are meant to support real buyers, not speculators, so buyers must be able to complete the purchase.”
When real estate action in the Lower Mainland is stalling, could introducing more buyback or rent-back programs be what the B.C. housing market needs to foster confidence among buyers purchasing pre-development? Allure seems to think so, and hopes to regain trust with pre-sale buyers through its brand new contingency program.
“The program is built around our long-term confidence in Surrey City Centre, its growth, demand, and future as a hub for education, innovation, and investment,” Mansour said. “SkyLiving is positioned to benefit directly from that, and the structure of the program reflects that belief.”