Overseas property buyers seeking a place to buy in Canada
need to have a good look at Vancouver. This city seems to
be the place for sound investment and relocation to Canada.
It has been rated as one of the best places to live, a 2007
report by Mercer Human Resource Consulting tied the city
with Vienna as having the third highest quality of living
in the world, after Zürich and Geneva. The good news
does not stop there a strong economy and a housing market
that is robust are other reasons why Vancouver is my tip
for the top
Vancouver has traditionally relied on British Columbia's
resource sectors: forestry, mining, fishing and
agriculture. It has diversified over time, however, and
Vancouver today has a vibrant service industry, a growing
tourism industry.
As United States and some Canadian real estate markets have
been hit by the slowdown in housing sales, Vancouver
continues to shine. While things might look to slow a
little, prices will still increase and the city in western
Canada expects to be doing a brisk business throughout this
year and into the foreseeable future.
The Canada Mortgage and Housing Corporation, which serves
as the country's national housing agency, is predicting an
8% increase in home prices for the metro Vancouver area.
That's in comparison to an 11% increase for all of 2007,
and will still leave the city with the highest prices in
the country. Evidence suggested that Vancouver house
prices are going to continue to increase
Vancouver is an attractive city to many people across the
globe, not just in Canada. Its moderate climate and
location on the water make it a nice place to live year
round, and many of the new home buyers are coming from
overseas. The current low US dollar has led to an increase
in buyers from Europe and Asia, where the currencies are
stronger. Additionally, western Canada is experiencing a
boom in its economy. High oil and commodities prices are
good for this part of the country, and unemployment is very
low.
Vancouver has a great future as it movie making reputation
grows, it has become the third-largest film production
centre in North America after Los Angeles and New York
City, earning it the nickname Hollywood North.
Many of the buyers in Vancouver are going after high-end
condominiums in or near downtown. There are many new condo
towers that are under construction, but four in particular
are doing much better than anticipated. These four luxury
hotel-condominium towers now under construction are the
Ritz-Carlton, Shangri-La, Fairmont Pacific Rim and Hotel
Georgia. They are getting prices of more than $3,000 per
square foot, compared with an average for downtown condos
of $725 per square foot.
With an attractive location, strong economy and many other
advantages, Vancouver looks to continue to be a hot market
for some time to come.
----------------------------------------------------
Author Nicholas Marr has a passion for international real
estate and has gained his unique perspective in his
capacity as director of the international property websites
at http://www.homesgofast.com and
http://canada.homesgofast.com
No comments:
Post a Comment