Does property value usually increase or decrease AFTER a city hosts the olympics?

Question

Does property value usually increase or decrease AFTER a city hosts the olympics?

Answer 1

IT REALLY DEPENDS ON THE CITY

Answer 2

There is always a big let down in all areas after the olympics.  But a friend in Lake placid New York said the cost of putting on the olympics was so high that the taxes had to be raised to pay for it years after.  This, of course, will affect willingness to buy property especially with the housing problems going on now.

Answer 3

There have been several studies on this topic, but one common generalization is that Olympics can be a huge boost in property value BUT if and only if the facilities are created with legacy use in mind.

Here are some studies on this topic you may want to read

The Olympics & The London Property Market http://www.bpf.org.uk/pdf/17521/pressrel...

Olympic impact on real estate http://www.property-report.com/apr_op_ar...