It may not be news to us – but the New York Times just ran a story on how expensive condos are in Vancouver:
“When I try to explain to friends in the States how much it costs here, they don’t believe me,” Ms. Gill, 29, who is a real estate broker, said of the city’s high prices. “They say, ‘You’re lying.’”
But $840 a square foot — which is how much the couple paid for their condo — is not unusual these days.
Downtown Vancouver is the most expensive housing market in Canada, according to a survey of 21 cities worldwide released last April by Century 21. The average sales price for a condo in Vancouver was around $419,750 in 2007, up 14.6 percent from last year, according to Royal Le Page Real Estate Services. The average sales price in Toronto, Canada’s largest city, was about $241,818, up 15.7 percent from last year, and in Montreal, $201,818, up 4.6 percent.
The whole story here.