Vancouver condo buyers often ask me what is the appreciation of older condo buildings vs newer ones. Buyers often opt for newer buildings that are still under warranty because they're concerned about repairs and the possible special assessments in older buildings. So I drilled down on the stats and here's what I found.
Comparing Older Kitsilano Condo Buildings to Newer Buildings
Here's the average sale price psf for Kitsilano condo buildings from Jan-May 2012 vs same period 2013
- under 5 years - $745psf/$643psf
- 5-10 yrs - $674psf/$622psf in '13
- over 10 yrs - $586psf/$563psf
Kitsilano condo buildings over 10 years are considerably less expensive than newer buildings but the price depreciates less in a down market than newer buildings.
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P.S. I am your Kitsilano real estate condo Realtor with a history of hyper-local experience!