More Than 30 People Line Up to Buy Used Condos

If you've been living in Vancouver these past few years, this story will sound eerily familiar. A new condo development is about break ground and dozens of people line up days in advance for the opportunity to buy one of the new units. The key difference today, however, is that the people who purchase a new condominium will not be the first people to actually live in these apartments.

Millennium Water is a multi-million dollar housing project set right in the middle of what will become the Olympic Village along the water's edge of False Creek. Billed as "one of the last waterfront properties in Vancouver", Millennium Water doesn't exactly come cheap either with modest units starting in the $600,000 range, ramping all the way up to over $3 million. The smallest unit is a paltry 500 square feet, making for a per square foot price of $1,200.

These condos will actually serve as the temporary home for Olympic athletes in 2010 and it is only after the world's greatest snowboarders, hockey players, and ski jumpers move out that the new owners can move in. At its core, these people are buying used condos, albeit used by some of the world's finest.

Source: ctv.ca

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More Than 30 People Line Up to Buy Used Condos

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