The Largest Influence on Real Estate Agents Vancoouver
Article by Trish Logan
Is the Vancouver real estate market actually over-priced. My mother and dad always advised me, they are certainly not discovering any more land so you better get yourself some.Vancouver’s geography is the largest hurdle hindering her growth. To the north of Vancouver there are mountains, the ocean to the west and the United States to the south all she can go is east or up. The land that is left to develop is becoming hard to find and so people are expected to pay much more just for the land not including the house. The typical cost of a unattached residence inside the city of Vancouver, is actually nearing one million dollars. Who is actually making Vancouver real estate property so very expensive. The stress is coming from overseas as well as the home-based Canadian residents. For beginners Canada has a cold climate, except for the Fraser Valley area. The majority of winter months have no snow and just a couple of weeks of very cold temperatures. we call it British California. A large number of elder Canadians happen to be immigrating to Vancouver to escape their winters plus they are usually financially secure to afford the prices. Many have sold their family residence in Ontario and Quebec or the farm on the prairies and are able to afford the purchase price. The average worker simply can’t manage to live here. a majority of international immigration is coming from Asia. China is a global world leader, many Chinese find investing in Vancouver real estate a real bargain. Cities like Beijing and Hong Kong have land prices more than Vancouver. Our warm winters are pleasing to these investors from China and our proximity to things such as skiing and the mountains draw them here. You might be from Vancouver or just moved here, it is a fact that all the amenities are inside of one hour’s drive of the city. Vancouver has attained the distinction as the 2nd least reasonably priced city for homes in the world. Second only to Hong Kong from developed cities. The statistics used to draw this judgment were compiled by looking at the income levels to the cost of a home. Multiplying the twelve month income by three ought to be the average price of a dwelling. In 2011 Hong Kong managed a whopping 12.6 and Vancouver ratio put a home at over ten times the yearly salary. This however does not mean that a home in Vancouver is more expensive than somewhere else. It’s just the ration when compared with other metropolitan areas in the world. This lower income is having a negative effect on the job market in Vancouver as skilled labor is leaving the area for for less expensive places to live. At the same time Vancouver just isn’t experiencing an influx of skilled labor back into the city. The price of buying a home and the living costs are keeping qualified workers away. These people are trading a colder climate for higher pay and cheaper housing costs. Now if you are seeking a place to earn some cash in real estate, investigate Vancouver. During the tough economy the property costs did dip in Vancouver although not to the extent they did in other places. For a long time people have been predicting a correction in the Vancouver real estate market. The experts forget about the enormous pressure because of the baby boomers wanting to live where you don’t need to freeze all winter. And from the strength of the Asian market who would like to have a place like Vancouver featuring a thriving Asian community where you can make an investment, vacation or immigrate. I believe the Vancouver real estate market will stay strong for a long time.
For more information on this property contact Katie Kirk 705-321-8017 email: email@example.com
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