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Inflated Real Estate Values due to Olympic Flame?

Blog by Claire LeLacheur | February 22nd, 2010

I read an article in the Vancouver Sun today stating that those properties in Coal Harbour that had direct views of the Olympic flame also had strengthened real estate values. A place at harbour green - a fabulously wonderful building with amazing views to every corner of Burrard inlet, are enjoying asking a bit more on their asking price due to the fact that they have unobstructed views of the flame lit by Wayne Gretzky.

Here are some thoughts.

Those people at harbour green may be enjoying the fabulous views of the flame but how long will it take for that to be an everyday view just like views of Science world - left over from Expo '86? Sure the view of Science World is great but not something I would personally pay more for.

How long is it until this city goes back to normal. All of the athletes go home. Owning the podium becomes just another term and a thing of the past, and the biggest thing - everyone will have seen the flame, and it becomes nothing new. Will those living in Coal Harbour still be able to ask significant prices for something that is an every day occurance?

One more thing. Most of what I have seen of the Olympics so far has been very dissappointing. It has turned out to be an elitist, VIP event where you must have money and a VIP pass to enjoy the games. Not sure that is what the regular working class of Vancouver signed up for. I knew there was a reason I was not a sports fan.

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