Olympic prices in Vancouver

[Avoidconfusion]

I am facing a possible temporary transfer (up to 2 years) to Vancouver from Calgary in the fall and I was thinking it might be an oppurtunity to purchase something in Vancouver for future rental. I was wondering if there has been any slight increase in prices due to the Olympics and whether it would be better to pruchase something after the Olympics (hoping for a slight price drop).
Does anyone have any good feel for Vancouver on this?

Thanks

 

[Dan_Eisenhauer]

Why would you think real estate prices would fluctuate because of a two week event?

In a word, "No!"

 

[Avoidconfusion]

QUOTE (Dan_Eisenhauer @ Jun 2 2009, 01:45 PM) Why would you think real estate prices would fluctuate because of a two week event?

In a word, "No!"


Makes sense thanks.

 

[Thomas Beyer]

Prices in Vancouver probably have already bottomed out.

They also have a land transfer tax .. plus realtor fees on exit .. so a 2 year view may be too short for a huge gain !

Buying in Vancouver to rent is HARD as the price-to-rent ratio is poor .. say in Yaletown @ $550,000 and rent for $1600 ?
Better in Lower Mainland, aka Burnaby, Abbotsford, Surrey ...

 

[RealtyShowcasing]

In my line of work I am seeing investors purchasing and renting out solely for the Olympics with the intent to sell when the Olympics are over. I am seeing owners two and three bedroom units advertising to lease for anywhere from $15,000 to $50,000+ for the duration of the Olympics. Will there be an influx of condos on the market after the Olympics, maybe, if not, then there will definitely be alot of options for renters.

 

[seven3]

Hoping that RE prices in Vancouver go up because of the Olympics is like waiting for the greater fool to come along. Everyone knows the games are coming, specifically when and for how long. I don`t see how the fundamentals are changed by a short-term event that is likely already priced in (some time ago).