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What's Going On With Coal Harbour Prices?

For those with extra cash, some Coal Harbour real estate is being snapped up at bargain prices.  A recent sale in Two Harbour Green, for a West-facing,  2 level, 2 bedroom, 2500 square foot home on a mid-tier floor, with great harbour veiw sold for $740/square foot.  This is pricing we've become accustomed to in the core of downtown with its high denisity and its partial views, not pricing we associate with luxury real estate on Coal Harbour's waterfront.

A couple of front-row-to-the-harbour apartments on Bayshore Drive sold last month for just shy of $1000./square foot.  While the average sale price/foot for apartments sold over $1m., in waterfront buildings in Coal Harbour since January 1, 2009, comes in at $1133./square foot, as compared with the same period in 2008 when average price/ft for +$1m. Coal Harbour waterfront apartments was $1251/ft..  The highest price/foot paid so far this year as recorded on MLS was $2,077. ft for a unit in pre-sale at Three Harbour Green. 

With the imminent arrival of visitors affiliated with the 2010 Olympics and more affluent mainland Chinese shopping for homes in our locale, this may prove to have been a rare opportunity to purchase in Coal Harbour at such competitive prices and with such a smart selection of great properties to choose from.