Burnaby Updates

[vanc]

Originally Posted by Redtruck

Found this interesting.

1901-2311 Beta Avenue, Burnaby•Brentwood Park

BC assessment 2022 $ 864,000
2023 $ 815,000

Currently listed for $ 668,000

From 2022 to 2023, most property assessments increased, but this address decreased? To be listed for $147k, a 18% drop from the 2023 BC assessment, is crazy. It appears to be a combination of factors: the building is blacklisted, and there is oversupply in this area. Also Eclipse the final tower in this project appears to be making no progress. Anyone have insight?

All of the Lumina buildings are total lemons and underpriced compared to the rest of the neighbourhood as a result. As for BC assessment decrease, without going into where I live my unit in the general neighbourhood also saw a similar decrease (not Lumina though).