I can't see it going any higher than $525-550k though? I can't fathom the idea of someone paying $600k for a 1 bedroom by Joyce / Kingsway lol.

:heckno:

I learned a long time ago to stop saying "I can't fathom the idea of someone paying X for X" :pokerface:

Our 1 BR was assessed for 732k (Kitsilano). It's crazy, 2 of the other 1 BR unit sold for over asking in 2020. the 2 BR unit sold 200k over assessment value....

People were saying that back when prices were $300-400k for a 1Br but that could’ve been qualified by a single income in a good career paying $65k+.

But at $600k that’s pushing it. You’ll need $100k+ to qualify which is probably like top 10% of individuals? But I guess generational wealth kicks in at that point.

Vancouver is half price in comparison to HK / monaco, NY,

1bed, 525k today, 700k in 5 years, 1mil in 10

It's also nothing like living in HK/Monaco/NY etc. :pokerface:

Depends who you ask and what they are looking for... There seems to be plenty of demand for RE here, regardless of what the "Vancouver sucks" crowd has to say about living here.

Monaco is the size of sfu, no joke
are we comparing Joyce to a seaside citadel lol

That fishy smell isn't from the ocean...

i always find it funny when ppl try to put things into context by saying vancouver is still cheaper than hk, nyc, and london. yes, that makes it no big deal when you're comparing it to the top 3 most expensive cities in the entire world. there are like 10,000 cities in the world and being in the top 5 most expensive is no big deal because its still not number 1-3. that's like the high expectations asian father meme. 99.996%? why not 100%!

:lol

Well, there was also a time in recent memory on this forum where people kept saying how Vancouver ain’t shit and it’s not a “world class city” like HK etc.

Now HK is a Chinese puppet state where you get thrown into jail by secret police so Vancouver is looking pretty attractive to these “world class cities” lately. Even places like New York, given covid and the resulting fallout Vancouver is looking more and more attractive.

Add global warming to the political and covid unrest. Vancouver and Canada is sitting pretty. Immigration will come roaring back.

I won't bet against the Vancouver market you might miss the next run up.

We paid over 600k for our 1 bedroom + den back in 2017. It is a big 1 bedroom though, close to 800 square feet. Those new 1 bedrooms are absolutely tiny though!

A friend just sold his 1 bed + den around Brentwood, Chinese parents bought it for their son going to bcit. No mortgage needed, asked 680, sold for 720....

Chinese parents sending their kid to BCIT and not UBC?! WutFace

Maybe $700-800ish, because my unit will be 25 years old. Can't imagine a 25-year old unit outside of downtown costing 1 mil. Kind of scares me if I wanna upgrade to detached or TH lol.

*Insert Asian Dad meme*

The reason why Monaco is expensive.

Here's an interesting site from Environics Analytics about demographics for Canada's various postal codes, which is pretty relevant for those wanting to learn more about the types of neighbourhoods they want to buy in:

https://prizm.environicsanalytics.com/

Mid-City Mellow....lol actually it's pretty close.

Of course nobody ever admits to that as evidenced by the Car World episode lol

Kick-Back Country
Rural, middle-aged upscale families and couples

Doesn't really work for small towns. For example, my parents own a 4200 sq ft house in Lake Cowichan with 1.2 acres of property on waterfront with a 3-car garage that is worth around $900k-$1M but, because the entire town has the same area code ...

Just Getting By
Younger, low-income city singles and families

My parents house is worth about double my house and they're not even close to the nicest or most expensive house in their neighbourhood. Pretty much all wealthy retirees.

world class landscape maybe
world class city is defined by a real economy and culture

lol if anything covid as a metric only hurts bc: sit at home for 2 years while shops closing for good

i know some who wanted to move here from taiwan are now like :fuckthatshit:

dang 10 acres for 1.3m
https://www.rew.ca/properties/304423...type=Geography