A land assembly transact that was planned in Vancouver has cause 43 homes on the same street to be listed for sale. The properties on East Broadway that have been listed are being sold for a price more than their actual worth as reported by a news reporting website.
A certain individual with a property valued at $3 million has her home listed for a price of $3.4 million.
Michael Geller, a planner as well as an architect in Vancouver thinks the method is wishful thinking, but was doubtful and contemplating on whether the price for which the lands are sold for would cause the developing homes which are to be much more cheaper mostly with zoning being implemented for the latest homes that will be listed at a value of 20 per cent, below the value in the housing market.
Geller made mention to a news reporting firm; “Just the cost of the land alone for a one-bedroom apartment would be $200,000, then you add in the cost of construction.”