I am looking for a report that compares the real estate
market(commercial and residential) in Olympic cities.

I need to see the market movements for the years preceding the
Olympics and for the years after the Olympics. If you can break it
down to Winter vs Summer Olympics, it would be better, but not
mandatory.

If you can narrow the report to the US & Canadian cities it would also be better.

Finally I need information and projections about the Whislter
real estate market since they announced the 2010 Olympics.

Basically, I want information that will help me decide if I should invest in
real estate in Whistler in the next months.

---

Request for Question Clarification by bobbie7-ga on 17 Jan 2005 12:17 PST

Hello Pootz,

I can provide you with the following information:

1. A 28 page report that compares the real estate market (commercial
and residential) in Olympic cities.
 
Description:
New Study Assesses Potential Impact of Hosting Olympics on Real Estate Markets
The report examines the legacies of four recent Olympic hosts ? Seoul
(1988), Barcelona (1992), Atlanta (1996) and Sydney (2000) ? and takes
a look at how their hotel, residential, office and retail property
markets were affected. The study also examines the potential impact on
the five cities short-listed for the 2008 Games: Beijing, Paris,
Toronto, Istanbul and Osaka.

2.  A seven page report that examines the broader business development
that could happen as a result of hosting the games, and forecasts
extra office space demand as an indirect result of hosting the
Olympics.


3.  An eleven page report regarding ways hosting the Olympics will
both generate added demand for industrial real estate in Greater
Vancouver and create other changes for tenants and owners.

4.  A seven page article that identifies both the short-term financial
impacts of hosting the Olympic Games accruing to Georgia's economy
during 1991-1997 and the long-term impacts, often referred to as
Olympic legacies.

5. A brief article regarding the Impact of Olympics on Salt Lake
City's Hotel Market

6. Another article (4 pages) that  provides information on the real
estate market during and after the 2002 Summer Olympics in Salt Lake
City:

7. Four articles that discuss the Whistler Real Estate Market.

Would this information be a satisfactory answer to your question?

Thanks,
Bobbie7

---

Clarification of Question by pootz-ga on 17 Jan 2005 12:31 PST

Hi!

Everything looks good. However, you say:
7. Four articles that discuss the Whistler Real Estate Market.

Can you find articles/studies that discuss the Whistler Real Estate
Market in regards to the 2010 Olympics?

---

Request for Question Clarification by bobbie7-ga on 17 Jan 2005 12:34 PST

<Can you find articles/studies that discuss the Whistler Real Estate
Market in regards to the 2010 Olympics>

I apologize for the misunderstanding. These articles do discuss the
Whistler Real Estate Market in regards to the 2010 Olympics.

---

Clarification of Question by pootz-ga on 17 Jan 2005 12:35 PST

sounds good

Dear Pootz,

Thank you for your clarification.

Below you will find links to all the reports and articles that I
mentioned previously.

====================================================


1.  A 28 page report that compares the real estate market (commercial
and residential) in Olympic cities.

Reaching Beyond the Gold: The Impact of the Olympic Games on Real Estate Markets,?
 
?The report, ?Reaching Beyond the Gold: The Impact of the Olympic
Games on Real Estate Markets,? examines the legacies of four recent
Olympic hosts ? Seoul (1988), Barcelona (1992), Atlanta (1996) and
Sydney (2000) ? and takes a look at how their hotel, residential,
office and retail property markets were affected. The study also
examines the potential impact on the five cities short-listed for the
2008 Games: Beijing, Paris, Toronto, Istanbul and Osaka.?

See the press release here:
http://www.lasalle.com/news/olympic.omm

Download the full text of this report here:
http://www.joneslanglasalle.com/publications/global_insights_0106/Reaching.pdf


====================================================


2.  A seven page report that examines the broader business development
that could happen as a result of hosting the games, and forecasts
extra office space demand as an indirect result of hosting the
Olympics.

Title: 
Olympics and Beyond: Implications for Greater Vancouver?s Office Market
Second Edition, July, 2003

Download the full text of this report here:
http://www.avisonyoung.com/library/pdf/Van_Research/Olympics_and_Beyond_(Office)_-__July_2003_Edition.pdf


====================================================


3.  An eleven page report regarding ways hosting the Olympics will
both generate added demand for industrial real estate in Greater
Vancouver and create other changes for tenants and owners.


Title: Olympic Impact: Vancouver 2010 and the Industrial Real Estate Market

A feature report from Avison Young Commercial Real Estate

?Olympic Impact: Vancouver 2010 and the Industrial Real Estate Market
Summarizes expected re-zoning of industrial land and other impacts to
Greater Vancouver's industrial property markets of hosting the 2010
Olympics. ?

Download the full text of this report here:
http://www.avisonyoung.com/library/pdf/Van_Research/Olympic_Impact_-_Vancouver_2010_and_the_Industrial_Real_Estate_Market.pdf


====================================================


4.  A seven page article that identifies both the short-term financial
impacts of hosting the Olympic Games accruing to Georgia's economy
during 1991-1997 and the long-term impacts, often referred to as
Olympic legacies.


Title. THE ECONOMIC IMPACT OF HOSTING THE 1996 SUMMER OLYMPICS
Jeffrey M. Humphreys and Michael K. Plummer 

Dr. Humphreys is Director of Economic Forecasting, Selig Center for
Economic Growth, Terry College of Business, The University of Georgia.
Mr. Plummer is Principal, IRE Advisors, Real Estate, Economic, and
Financial Consultants, Atlanta, Georgia.
http://www.selig.uga.edu/forecast/olympics/OLYMTEXT.HTM

I just noticed that the links to the tables in this article do not work.

By using the Wayback MKachine at the Internet Archive you will be able
to view these Tables.
http://www.archive.org/

Table 1
http://web.archive.org/web/20010827171113/http://www.selig.uga.edu/forecast/olympics/olymptb1.htm

Table 2
http://web.archive.org/web/20011010191322/http://www.selig.uga.edu/forecast/olympics/olymptb2.htm

Table 3
http://web.archive.org/web/20011010192059/http://www.selig.uga.edu/forecast/olympics/olymptb3.htm

Table 4
http://web.archive.org/web/20011010191825/http://www.selig.uga.edu/forecast/olympics/olymptb4.htm

Table 5
http://web.archive.org/web/20010827173537/http://www.selig.uga.edu/forecast/olympics/olymptb5.htm

Table 6
http://web.archive.org/web/20011010192709/http://www.selig.uga.edu/forecast/olympics/olymptb6.htm


====================================================


5. A brief article regarding the Impact of Olympics on Salt Lake
City's Hotel Market

Title:
Salt Lake City: The Aftermath of the Winter Olympics 

?Jones Lang LaSalle Assesses the Impact of Olympics on Salt Lake
City's Hotel Market?
http://www.joneslanglasalle.com/news/2002/12dec/SaltLake.html


====================================================


6. Another article (4 pages) that  provides information on the real
estate market during and after the 2002 Summer Olympics in Salt Lake
City:

Title:
"Park City Provides Insight Two Years After Games"

August 6, 2004 edition of the Pique Newsmagazine
http://www.whistlerchamberofcommerce.com/usr_files/Park_City_provides_insights_two_years_after_Games.pdf


====================================================


7. Four articles that discuss the Whistler Real Estate Market in
regard to the 2010 Olympics.


From the WESTERN INVESTOR/FEBRUARY 2003:

Whistler has no land left
?As Olympics hopes mount, Whistler hits build-out and Squamish
prepares for Sea-to-Sky speculators?
http://www.westerninvestor.com/regional/feb03seatosky.pdf


Olympics will bring real-estate boom, but not to Whistler ski resort
DUSTIN QUEZADA   
Canadian Press  
Saturday, March 27, 2004
http://www.canada.com/national/features/snowsports/story.html?id=04C159A4-1ED0-428D-B4BA-E50B2064A45E


Canada braces for Olympics housing boom 
By: Frank  O'Brien 
August 21, 2003 
http://db.inman.com/inman/content/subscribers/inman/column.cfm?StoryId=030803FB&columnistid=obrien


Whistler market flattens, B.C. real estate soars  
Resort market was due to stabilize after a long run of price
increases, says Wintemute
Published Date: 2005-01-06   By Alison Taylor

?Whistler?s real estate market, once a hotbed of activity, has stayed
flat over the last B.C. Assessment period, while the rest of the
province has seen an average 17 per cent increase in value.?
http://www.piquenewsmagazine.com/pique/index.php?cat=C_News&content=Property+assessment+1201



====================================================


Additional articles and reports that may interest you:


The Economic Impact of the Winter Olympic & Paralympic Games
Initial Estimates:  January 2002
A Report Prepared For: 
Honourable Ted Nebbeling Minister of State
For Community Charter and 2010 Olympic Bid
Prepared By: 
Capital Projects Branch Ministry of Competition, Science and Enterprise
Province of British Columbia Honourable Rick Thorpe, Minister
(46 pages)
Download here:
http://www.mcaws.gov.bc.ca/2010/ecimpact.pdf


THE OLYMPICS: QUICK BUCKS OR QUICKSAND? - What impact will the
Olympics have on Whistler?s and Vancouver?s real estate market?
Vol 11, Issue 5 June 2003
http://www2.jurock.com/insider/login.asp?c=1&id=2477
To read this article, you need a subscription to  The Insider Newsletter.
http://www2.jurock.com/insider/products/product-details.asp?id=808


Estimating the economic impact of the Vancouver Olympics
RBC Financial Group
http://www.rbc.com/economics/market/pdf/bcolympics.pdf


====================================================


Search terms used:
Olympics 2010, Whistler, Vancouver, impact, real estate market, report, 
Olympic cities,


I hope the above information helps you in your research.


Best regards,
Bobbie7

Thanks much for your answer, but I would have liked more stuff on the
Whislter real estate market itself... This article seems very
interesting, but I would need to pay another $300... THE OLYMPICS:
QUICK BUCKS OR QUICKSAND? - What impact will the
Olympics have on Whistler’s and Vancouver’s real estate market?
Vol 11, Issue 5 June 2003
http://www2.jurock.com/insider/login.asp?c=1&id=2477
To read this article, you need a subscription to  The Insider Newsletter.
http://www2.jurock.com/insider/products/product-details.asp?id=808

As a mortgage broker and licensed real estate agent in Vancouver, BC I
have access to all MLS data related to the Vancouver area including
the Lower Mainland to Whistler. However Whistler is a bit of a niche
and not all their listings are published on MLS. In general though,
the data on MLS is a reasonable indicator of market activity there.
The latest I have heard is that after stratospheric increase in prices
for both Whistler and Squamish (30 min South of Whistler) prices have
dropped similar to the rest of the market. Poor snow falls and a
higher dollar have reduced visitors to the area which has put downward
pressure on units that are investment/rentals.

For 15 years people have said that the prices in Whistler couldn't
possibly go higher yet they continue to do so. Whistler is an
international destination and property purchaser are the wealthy from
around the world, especially the US. Last I heard, you can't buy a
detached unit for under $1 Million CND. You can buy a 1 br unit for
under $300,000 CND.

For historical market stats for the Vancouver area you can get them
off my real estate site under stats at http://www.GregViger.com

For Canadian and BC mortgage information and rates visit my Mortgage
Broker website for the Greg Viger Mortgage Team:
http://www.MoneySaverMortgages.com

Although I hold my real estate license in Vancouver, I am mainly a
Mortgage Broker. If you are considering a purchase in Whistler, I
would be happy to refer you to a top notch Realtor there. I can also
assist US citizens in arranging Canadian financing if necessary.

As an aside, the best purchases aren't currently in Vancouver or
Whistler. Other areas that are better investments with basement suite
potential and lower vacancy rates are Coquitlam, Port Coquitlam, Port
Moody, Burnaby, Richmond, North Vancouver, West Vancouver, Squamish &
Whistler (not so much any more though).

Greg Viger
Mortgage Broker