Tuesday, October 7, 2014

BIV: A Closer Look at Olympic Village Property Values

Business in Vancouver Magazine is out today with a shocking series of slides taking a closer loop at Olympic Village property values.

In the first one, the average change from assessed values in 2011 to 2014 is down almost a stunning 20%:

Breaking down the properties, the average price drop per unit is a whopping $221,546.  The largest price drop is $627,000 for one unit:

Based on floors, from units on the 10th floor and up, prices are down -33%. Mid floors (5th - 9th floor) are down 22% and Lower floors (4th and below) are also down 22%.

BIV also gives a breakdown of the smaller to bigger units:

It's a stunning look at property values in the former Olympic Village.


Email: village_whisperer@live.ca
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  1. What? I thought real estate prices only goings up, not down in Vancouver. This is shocking.

  2. Not to mention the poor construction & endless deficiencies.

  3. I think the Global News report a couple of weeks ago about the nearby social housing won't help next year's assessment either.


  4. A nice thing here is that there is some actual hard data to reason over. Yet another call for public availability of essential data Zillow style. It's amazing how hidden and guarded offer and sale data is given the importance of real estate transactions in a person's life.

  5. hah, you guys ain't seen nothing yet. The Olympic condos are less than a click north of my neighbourhood and look what is happening here: