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Sold for $430,000 in 2017.
https://www.realtor....ctoria-downtown
Listed for $485,000 today.
7 years, not much appreciation.
 | BUILT Era Uses: condo, commercial Address: 726-746 Yates Street Municipality: Victoria Region: Downtown Victoria Storeys: 15 Condo units: (loft, 1BR, 2BR, sub-penthouse) Sales status: sold out / resales only |
The 15-storey Era condo and ground floor commercial tower is located in the 700-block of Yates Street. The pro... (view full profile)
Learn more about Era on Citified.ca
Learn more about Era on Citified.ca
[Downtown Victoria] Era | Condos | 15-storeys | Built - completed in 2015
Started by
Mike K.
, Oct 07 2008 02:11 PM
Condo Commercial
1305 replies to this topic
#1301
Victoria Watcher
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Old White Man On A Canadian Island
Posted 05 August 2024 - 03:03 AM
#1302
Mike K.
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Posted 05 August 2024 - 07:21 AM
$430k in 2017 dollars is $530k in 2024 dollars.
The AirBnB premium would have given the seller an extra $100k, so there’s no actual appreciation.
The best part is, the government will still capital gains tax them!!
The AirBnB premium would have given the seller an extra $100k, so there’s no actual appreciation.
The best part is, the government will still capital gains tax them!!
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1303
Victoria Watcher
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Old White Man On A Canadian Island
Posted 05 August 2024 - 07:23 AM
$430k in 2017 dollars is $530k in 2024 dollars.
Show your math here.
If I bought it in 2017 for $430k what does $530k have to do with anything?
#1304
Mike K.
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Posted 05 August 2024 - 07:29 AM
You need to clear $532,322 to make a profit, in 2024 dollars, if you bought the unit for $430,000 in 2017 dollars.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1305
Victoria Watcher
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Old White Man On A Canadian Island
Posted 05 August 2024 - 07:35 AM
You need to clear $532,322 to make a profit, in 2024 dollars, if you bought the unit for $430,000 in 2017 dollars.
I see.
What other mainstream and relatively safe investement could I have made - putting down $430 in 2017 - that would have me cashing out at $530 in 2024? Or are you just using general inflation numbers?
It's around 3% per year I guess.
Edited by Victoria Watcher, 05 August 2024 - 07:47 AM.
#1306
Victoria Watcher
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Old White Man On A Canadian Island
Posted 06 August 2024 - 06:24 AM
Residents of a “ghost hotel” off Yates Street want to see how they can help the City of Victoria crack down on illegal short-term rentals — and are planning for the condo to levy its own fines against short-term rental operators who don’t follow the rules in their building.
Marv Gandall, council strata secretary of the Era on Yates building at 728 Yates St., said members of the council are meeting with the city’s short-term rental bylaw enforcer to see how they can coordinate efforts to ensure that no illegal short-term rentals can operate in their building.
As of April 29, only 30 of the 157 units in the Era were lived in by its owners, Gandall said.
“We knew the imbalance was acute but were shocked by its extent.”
Incomplete records provided by the building’s property manager to the building’s council strata seen by the Times Colonist shows another 62 units in the building had long-term tenants.
Of the other units, 38 were licensed for short-term rentals and the status of the remaining investor-owned units was unknown or had incomplete information.
The strata council believes many of those investor-owned units were operating as unlicensed short-term rentals, Gandall said.
https://www.timescol...uilding-9313480
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