July 10, 2017 Water View Can Raise Condo Price 60 Per Cent MLA Advisory's recent view study is featured in Home Builder Magazine. The article discusses the value of water versus city views of new condos in downtown Vancouver.

How much more is a new condo worth if it has a water view?

Up to thousands of dollars more, based on study done of Vancouver condominiums by marketing firm MLA Canada.

The study compared new and resale condominium prices with and without water views. While done for Vancouver, similar U.S. studies have seen comparable results, suggesting that views of Toronto’s Lake Ontario would see similar price gaps.

In the new condominium market, MLA found that a downtown Vancouver pre-sale tower sold its remaining units, all with views of the ocean, for approximately $2,000 per square foot.

Similar new condominiums with no water views were pre-selling for approximately $1,500 per square foot.

This translates to a price difference of $350,000 for a typical 700 square foot new condo, MLA noted, based just on a water view.

Read the full article on Home Builder Magazine's website here.

PHOTO // City view of downtown Vancouver from the penthouse of Maddox by Cressey.