Vancouver Real Estate - Buy / Sell / Rent
The Vancuver Real estate market has been booming for the past 3 years due to global low interest rates as well the successful Olympic bid. It's projected that the Vancouver real estate market will grow at approximately 5% in 2007. Regional growth will vary, typically the dowtown core, west vancouver, west side vancouver and white rock usually increase in value the fastest. However, there's been a building boom in the entire city and high prices in the downtown core are driving prices higher in the suburbs. A good place to purchase a residence at affordable rates may be south vancouver . South Vancouver is close the downtown core yet prices are much lower than in the west side. Surrey has recently witnessed the rise of many new condo projects, particularly in the Whalley area. Surrey may provide a good location for purchasing investment property as prices are tyically 1/3 that of condos in the downtown core such as Yaletown and Coal Harbour. Rents as a proportion to house price may be higher in suburbs such as Burnaby, Richmond, Surrey, Coquitlam, Delta and NewWestminster. Before purchasing an investment property or a residence it's best to consult with qualified real estate agents.
It is anticipated that the Canadian housing sector will not be affected in the same way that the U.S. market has been affected by the sub-prime mortgage issue. In the U.S. up to 21 percent of all mortgages are currently sub-prime. In Canada this comparative figure is 5 percent. Furthermore, in Canada any mortgage which is in excess of 80 percent of a home's value must be insured.
If you're searching for commercial property then MLS ( multiple listing services ) is your best resource for finding properties Canada wide. If you're interested particularly in the residential market then you'll want to visit realty link. The MLS service lists almost all properties listed with agents in BC.
If you're looking for recreational property such as a ski resort condo then you'll most likely want to buy a condo or town house in Whistler. Whistler will be home to the 2010 Olympics which may give a boost to real estate prices.
Please be sure to browse or post your listings int the free Virtual Vancouver classifieds. You can choose either Real Estate Rentals or Real Estate Sales categories.
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