Real estate in Vancouver, BC has been really hot. Rich foreign money are being poured into our housing market thus driving prices up to extraordinary highs. We are known to be one of the least affordable city to live in North America. The prices are often too much for the average salary worker. Sometimes, it doesn’t really make sense… our wages are definitely not keeping up with housing boom in Vancouver. I only got a 4.5% raise this past year to keep up with inflation. Everything in this city is expensive!! Taxed heavily, consumer goods have also risen. It’s hard to stay in Vancouver for sure!
There’s a prospective new condo going up just outside of Vancouver selling at reasonable prices compared to everywhere else. But what’s the catch? It’s located in New Westminster, prices there seems to be stagnant as there are a lot apartments, condominiums, and townhouses saturated across this city. However, it is ultra close to metro Vancouver without the hassle of a bridge like neighboring city, Surrey. The estimated completion date for this development will be approximately 18-24 months from this Fall, so you can expect the completion to be in 2013.
Here’s a little blurb about the new development going up:
“The 258 is the most affordable high-rise in New Westminster (and the Province) with 2 Bedrooms starting from an incredible $238,900…yes, $238,900…and yes, two bedrooms!The 258 is an incredibly modern, 16 storey concrete high-rise featuring stainless steel appliances, granite counter-tops, laminate flooring, exceptional outdoor and indoor amenity spaces including media rooms, party rooms, sky terraces, BBQ areas and some of the most spectacular views in New Westminster!! “
time will only tell 
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