|English: Construction work on the London 2012 Olympic Village outside Stratford International railway station. (Photo credit: Wikipedia)|
However, when the event comes to an end officially, the Olympic Village is set to be of great importance to the entire community in London. Its current name will be transformed to East Village and it will act as a luxurious housing unit for the residents. According to reports, more than 6,500 people have started booking these elegant apartments in advance due to their high market demand.
This is a commendable move by the UK government considering the fact that not all previous Olympic Villages were utilized constructively. Some of them became wastelands while the rest were advertised for hire. For example, the village in Athens was barely sold since most buyers believed that it was located far away from the rest of the urban areas. These housing units are now filled with graffiti and empty rooms. The conversion of the London Olympic Village into a major housing unit has received warm response from the real estate industry as a major way of reducing congestion in the city while providing high quality housing with sweet memories of the previous games.