These condos are selling for about three times their fundamental value. -vreaa
VRENGD at vancouvercondo.info 24 Mar 2010 12:41 pm -
“I’ve posted this before, but I rent a 1200 SF two bed two bath waterfront Apt on False Creek and the Landlord gave me a discount of 20% on the asking rent, which was also 20% less than what the previous tennant was paying. Similar units in my building have sold for $1,000,000 (plus or minus $50k). I rent it for $1800.”
Very interesting. Something has to give there. I live in Whistler and the true price of real estate is always a concern for me. I have purchased two properties and started posting to a Whistler Real Estate Group (http://budurl.com/uwck), but in my purchases it has always been about what can the rental market bear simply because I don’t have a tremendous amount of disposable income and I can’t afford any mistakes.
Seems like the closer you get to downtown and the nicer the place the bette the price to rent ratio.
Kinda makes me want to rent a downtown condo just so I can get this amazing deal. Too bad I dont work downtown or I would actually consider it.