Maybe it’s rehashed news or nothing new to those of us living in the downtown area, but I always thought that condos, and apartments for that matter, were correlationally getting smaller as they are getting more expensive.
Size doesn’t seem to matter for people looking for a condo these days. Units on Howe Street in downtown Vancouver range from 478 to 600 square feet for a one bedroom. And even though they are getting smaller, the prices for the apartments haven’t shrunk. [news1130]
They fail to mention the price tag going for something so quaint. Taking a quick look at Vancouver Craigslist, I found a condo coming in at just under 600 square feet in Gastown, going for $299,000. An 836 square foot, 2 bedroom, 2 bath condo near BC Place going for $558,000. Something simliar to that in Coal Harbor? $700,000+ is what you’re looking at.
It does seem outrageous, but the amenities are supposedly what you are paying for. Security, workout facilities, pools, hottubs, saunas, and so on. A huge chunk of change to shell out for a sweet downtown address, but it depends on what you want.