Can New Launches Raise The Prices Of Older Condos Nearby? | / Property news / Can New Launches Raise The Prices Of Older Condos Nearby?

Can New Launches Raise The Prices Of Older Condos Nearby?

Fresh property news selection on August 31. 2020, Monday.

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It happens to every property owner at some point: you look out the window, and see that a massive crane is now obstructing your expensive/expansive view. Along with the drilling noises and dust, it slowly sinks in: the land plot next door is being taken by a newer, fancier condo.


Complain about this, and you might hear an old spiel: at least new condos are priced higher, so there’ll be a knock-on effect as older properties go up in price too. This is one of those things that’s commonly believed, but seldom looked at closely.

Out of curiosity, we decided to look at how the values of surrounding properties have moved, since a new launch appeared in the same area.

Read the full article here »

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