Mirabel | 48m, 53m | 18fl, 19fl | Completed

[djmk]

Originally Posted by whatnext

I am so glad this kind of density that forumers clamour for is being approved because as we can see it helps sooo much with affordability. Yessir, just a few more of these and the affordability crisis will be licked.

303 1365 Davie Street: $1,498,000

1504e 1365 Davie Street: $2,699,900

1602e 1365 Davie Street: $1,924,900

1701e 1365 Davie Street: $5,350,900

1803w 1180 Broughton Street: $5,850,900

I don't understand why people pay this kind of money for a condo when they can have a house for cheaper

[officedweller]

Originally Posted by whatnext

I am so glad this kind of density that forumers clamour for is being approved because as we can see it helps sooo much with affordability. Yessir, just a few more of these and the affordability crisis will be licked.

303 1365 Davie Street: $1,498,000

1504e 1365 Davie Street: $2,699,900

1602e 1365 Davie Street: $1,924,900

1701e 1365 Davie Street: $5,350,900

1803w 1180 Broughton Street: $5,850,900

Well, which is more affordable, a new car or a used car?
There used to be a time when condos were depreciable assets.
In theory, the majority of condo to condo buyers "move up" so in theory that would free up other smaller condos, but not necessarily 'affordable'. These ones are probably aimed at empty nesters who are downsizing from a house.
But agreed that paying this much to live at that location versus elsewhere is crazy.

[idunno]

FYI like all strata projects in the West End Plan, these towers are on top of a podium of social housing that make up 25% of the units. The rents are pretty affordable from what I've seen (~$2700 for a 3 bed!).

The condos are large units that have incredible ocean views. They were never going to be cheap!

[FarmerHaight]

Originally Posted by djmk

I don't understand why people pay this kind of money for a condo when they can have a house for cheaper

For the record there is only one SFH on realtor.ca in Vancouver that has 2 beds/2 baths, and is below $1.5 million. It's a block from East Hastings, is not a new build and does not offer the amenities. If you bump that price up to $3 million, only one additional listing appears... yikes.

[whatnext]

Originally Posted by FarmerHaight

For the record there is only one SFH on realtor.ca in Vancouver that has 2 beds/2 baths, and is below $1.5 million. It's a block from East Hastings, is not a new build and does not offer the amenities. If you bump that price up to $3 million, only one additional listing appears... yikes.

But there are plenty under $2.7 million. Why would someone would pay that, plus $775 a month in maintenance and thousands in yearly tax on their piece of air when you could actually own land? Oh wait, we know - these are supposed to be 3rd or 4th properties for real estate collectors, not "homes".

[FarmerHaight]

Originally Posted by whatnext

But there are plenty under $2.7 million. Why would someone would pay that, plus $775 a month in maintenance and thousands in yearly tax on their piece of air when you could actually own land? Oh wait, we know - these are supposed to be 3rd or 4th properties for real estate collectors, not "homes".

There are plenty of people who would rather live a 10 minute walk from the beach, an 8 minute bike from Robson Square, and a 15 minute walk from the shopping on Alberni, than in the middle of a SFH neighbourhood. Buying a home is also a life style choice, not just a financial one.

[SpongeG]

Originally Posted by whatnext

But there are plenty under $2.7 million. Why would someone would pay that, plus $775 a month in maintenance and thousands in yearly tax on their piece of air when you could actually own land? Oh wait, we know - these are supposed to be 3rd or 4th properties for real estate collectors, not "homes".

that's the listing price shown but what is actually paid is much more. This is one of the most recent ones. I read about one in the spring, where a couple from Seattle had to move to Vancouver because of a job and they paid i think it was $400,000 over asking to secure the house they wanted, obviously money no object but people will pay for the house they fall in love with.

The detached home at 2018 Charles Street was listed for $1,699,000 on September 8.

It sold seven days later on September 15 for $2,250,000 for an increase of $551,000 or 32.4 percent over the asking price.

Major noted that three-bedroom and two-bath house has a 2021 assessment of $1,499,000.

East Vancouver home sells $500,000 over asking price and increases in value almost 10 times since 1996
by Carlito Pablo on October 3rd, 2021

[whatnext]

Originally Posted by FarmerHaight

There are plenty of people who would rather live a 10 minute walk from the beach, an 8 minute bike from Robson Square, and a 15 minute walk from the shopping on Alberni, than in the middle of a SFH neighbourhood. Buying a home is also a life style choice, not just a financial one.

For that kind of money you can be in your own house in Vancouver and be less than a 10 minute walk to the beach:

https://www.rew.ca/properties/359836...erty_click=map

[idunno]

^^Hmm the listing says it's a leasehold but doesn't give the number of years left on the lease. Strange!

[Vin]

Only a handful of West End locations designated for taller buildings (not even that tall), with developers clamouring for them jacking up land prices, and people expect them to be cheap? Dream on.