Vancouver Developers Losing Their Mansions: $17M Foreclosure Shock

Vancouver’s real estate market just took another shocking turn. For the first time, we’re seeing not just buyers losing deposits or developers walking away from stalled condo projects — but developers themselves losing their own multimillion-dollar mansions to foreclosure.
In this video, I break down the latest foreclosure cases involving Thind Properties and their owner, whose $17M worth of luxury Vancouver homes have now been forced into court-ordered sales. We’ll look at:
The Surrey, Burnaby, and Richmond developments that went into foreclosure.
How one nearly completed high-rise project in Brentwood left buyers trapped in limbo.
Why a developer’s $14.5M mansion sold for just $13.6M in a foreclosure auction.
The shady tactics around rental income and foreclosure delays.
The collapse of luxury presale projects like the River District community — and what that signals for Vancouver’s high-end market.

👉 This isn’t just about one developer. It’s about the bigger picture of Vancouver’s housing slowdown: presale condo sales are down 37%, luxury buyers have exited the market, and even well-established developers are struggling to survive. If mid-sized developers are losing mansions, what happens next for smaller builders?

Whether you’re a buyer, seller, or investor, this story matters — because it shows just how fragile the Vancouver housing market has become in 2025.

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