The Globe and Mail Features our latest Shangri-la listing

December 8, 2017

OUR LATEST SALE AT THE SHANGRI-LA WAS FEATURED

BY THE GLOBE AND MAIL

PUBLIHSED NATIONALLY

Property Advertisement Link: http://www.albrighton.ca/property_details-3-119797.html

Suite 2705-1111 Alberni St, Shangri-la Vancouver. It was a nice NE corner unit, 1094 sq.ft. 2 bedrooms, 2 bathrooms, and a small den with some city views, and a corridor water view. The unit was in original condition, but very well kept as it had been owner occupied for most of its life. It was listed at $1,510,000 on September 19th 2017, and sold in 8 days for $1,490,000 ($1361.97/sq.ft.). We showed it to about 15 groups within the week. We had one offer within 6 days, which was slightly too low for the seller to accept, and after declining that initial offer, we then received a better offer the next day which after some negotiation landed within 1.3% of the asking price.

The seller had initially purchased this property as her primary residence in September 2015 for $1,090,000. The 37% appreciation over 2 years is beyond the average for most Downtown condos in this price range, however; the building Shangri-la has become extra desirable with nearby high-rises including the Trump Tower with similar units now selling at $1700 - $2500/sq.ft. Shangri-la has always been popular for its location, 61-storey height, views for the upper units, modern styling, and being connected to an international destination hotel. Read the full Globe & Mail Story here:

https://www.theglobeandmail.com/real-estate/vancouver/vancouver-shangri-la-condo-sells-to-second-bidder/article37195406/

We have sold 5 condos at Shangri-la Vancouver, and have a dedicated website for this building, www.shangri-la-condos.ca which is also in Chinese. 50% of our visitors are from out of country, we have met many buyers and international clients through this website.

Shangri-la Condo Prices keep going up

August 17, 2010

Shangri-la condo prices seem to keep going up

News Market Update

The Vancouver Real Estate Markets Begins to Balance except some luxury Properties

As prices increased quickly in late 2009 and in early 2010, more sellers decided to list their properties at higher prices. Subsequently, in May 2010 a total of 7014 properties were added to MLS which was 20% greater than the amount of listings added this past month, June 2010.

vancouver-skyline The amount of added inventory and no extra buyer demand has left most Vancouver attached properties (Apartments/Lofts/Townhouses/Duplexes) in a buyer's market. Demand remains consistent with strong sales numbers in June 2010 (1258 units) and the inventory to supply this demand is currently very well. New inventory is slowing down as demand cools off, leaving overall market conditions balanced.

“We didn’t experience any record-breaking activity in June, but we did see a stable summer market. The number of new listings coming on the market is not as dramatic as we saw over the previous three months and demand remains at a healthy level for this traditionally quieter time of year.” Jake Moldowan, REBGV President.

Shangri-la is in a League of its Own

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As always, the demand for unique special properties remains strong and certain buildings are still increasing in value. For example, sales at Shangri-la Vancouver have remained strong and the average price per square foot has gone up slightly every month of 2010. You can visit www.shangri-la-condos.com for more information and current listings.

Recently there was a high up 42nd floor unit that broke the record for "price per square foot sold price" for the 1111 Alberni address. It was sold at 1148/sq.ft. nearly 10% higher than a similar unit on the 40th floor 7 months prior in January 2010.

Sales at 1128 W Georgia street have remained consitent for 2010 averaging 1184/sq.ft. since April 2010 which is quite close to the amounts 6-10 months prior.

For more sales information at Shangri-la or for a consultation regading the value of your Shangri-la, contact Paul Albrighton direclty.