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Greater Vancouver Condo Market Becomes Hot And Why

Posted by on Dec 10, 2015 in Video & Blog

Condos are hot. The fact that buyers in the Greater Vancouver area are willing to pay big bucks for condos means a new build condo home now costs almost as much as a townhouse or three-bedroom detached property. In 2015, the amount of condos sold in Greater Vancouver has soared by 20 per cent year on year. And sales are up by more than 66 per cent on the figure from 2013. Condos are in and everyone seems to want to one. Looking further forward, it seems that almost 90 per cent of the 21,600 or more concrete condominiums scheduled to be completed by the end of the 2018 have already been signed off and sold. In October 2015, sales of apartments topped 1,543, an increase of 21.7 per cent on October 2014. But if we look all the...

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It’s Spreading – Boom comes to the Suburbs!

Posted by on Oct 12, 2015 in Video & Blog

Homes being assessed at worth a million dollars in Vancouver are on the up. Take Vancouver as a whole and some 28 per cent of all properties here currently sit valued at $1 million or more. And the suburbs are getting in the act too. We have all known for some time that certain suburbs have always had $1 million-plus homes, places like the well-to-do West Vancouver, Richmond and Burnaby; also districts, city areas and suburbs of North Vancouver and White Rock have long been thriving but now we are seeing New Westminster and Port Moody getting up there and in on the act. Even in districts where house prices have been soaring for some time, things are still getting better and better. In the City of Vancouver, there are more detached properties worth in excess of $1 million...

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What Role do the Chinese have on House Prices in Vancouver?

Posted by on Sep 12, 2015 in Video & Blog

New data is out from realty companies in Vancouver on the luxury housing market, and it will come as no surprise the biggest buyers are flocking in from China. One realty company in British Columbia said over 70 per cent of its clients in 2014 were from mainland China. The wealthy mainland Chinese are buying into the high-end luxury home market. If you own a home in Vancouver that’s worth under $1 million, you should not expect to see too much interest from the Chinese market here. In fact, the sub-$1 million homes in Vancouver attracted just one in ten of the buyers or interested parties from China. There was more interest from the Chinese in the mid-range market homes that were on the market for $1 to $3 million. In this range of luxury home, 21 per cent...

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The Hidden Fees We All Forget About

Posted by on Aug 11, 2015 in Video & Blog

Huge land fees and investors from overseas with bottomless pockets have helped to fuel the rising cost of buying a home in Vancouver. But these two factors are not alone when looking at the different reasons as to what makes a house price in a certain district go through the roof. Research carried out by the Fraser Institute has determined that approval times matter, compliance costs affect house prices, zoning matters and even the grumpy sod who might live next door can all go to affect the cost of a home in Vancouver. Although we do tend to overlook these cost factors, they are very much a factor to be taken into consideration when the house is priced by a real estate agent. Delays in municipal regulation can have an effect on house prices and if the home has...

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Outdoor Living Space on the Rise in Vancouver

Posted by on Jul 13, 2015 in Video & Blog

The space we utilize for outdoor living is on the rise in the homes of Vancouver. You might want to build an extra bathroom? Forget it, an increase in the size of the balcony is preferred. You could be considering extending your dining room so you could fit an extra-sized table in there? No way. The fire pit and barbecue patio takes precedence. Even those small balconies connected onto condos are being utilized with pots, plants, outdoor décor and stuff you might find down at your local garden centre. The trend to start living outdoors is on the rise and may have already reached fever pitch. Residents are flocking to the local hardware store and furnishing shops to buy small tables and chairs that will fit neatly onto the patios of family homes and balconies of condos. There is...

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