I am concerned that you're effectively doing a 'manual binding' (bad) for a property in a derived class to a value on the base class (also bad). The whole point of using inheritance is that the derived class can access things in the base class. Use a protected
modifier to indicate things should only be accessible to derived classes.
I would suggest this (potentially) more correct method:
Base class:
protected virtual void OnMyValueChanged() { }
Derived class:
protected override void OnMyValueChanged() { /* respond here */ }
Really, subscribing to an event in the base class of the very class you're writing just seems incredibly backwards - what's the point of using inheritance over composition if you're going to compose yourself around yourself? You're literally asking an object to tell itself when something happens. A method call is what you should use for that.
In terms of "when one property was changed on ViewModelBase - I want to change property on my ViewModel", ... they are the same object!