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Inexpensive Coal Harbour?

Real estate prices for the toniest flats in London have hit $6000/ft. according to a recent piece published by MSNBC. In 2006 a study by Mercer Consulting ranked Vancouver 3rd best city in the world in which to live, while London ranked 39th. Prices on Vancouver’s Coal Harbour waterfront have been averaging between $1300.-$1500/sq ft., with a few exceptional properties selling closer to $2600./sq ft.. Given our limited supply of exceptional waterfront flats can it be long before values rival those of other top ranked cities of the world?

Link to article from Mercer Consulting:

Best City in the World