Yessir, the good old days are back in the Vancouver condo presales market and the Province has the news. This weekend buyers lined up in the rain, some reportedly sleeping on the street over night to get a chance to buy a presales contract. The development located at Pacific and Seymour is set to be completed in 2013, and is called ‘The Mark‘.
I am NOT making that up.
Mayur Arora, who told The Province he hoped to land a top-floor unit, and his realtor K.D. Dhaliwal, said location and scarcity make the site an attractive investment.
“I’m here because they are selling Yaletown at today’s prices, but the speculation is [that] prices will go up after the Olympics,” Arora said.
Here’s an open challenge: can anyone tell me how many host cities saw real estate prices rise after the Winter Olympics vs. those that saw prices rise before hosting and fall afterward?
Steve Dhana was amazed by speculator interest as he watched investors rushing to place bids on units.
“The prices went up $50,000 last night,” Dhana said. He hoped to buy a unit in the $500,000 price-range, and also expected prices to surge in February 2010.
Well now, with prices going up at a rate of $50k a night how can you lose?
Hat-tip to Donald for the link.