M2m condos sales office . 2020 can house prices in Vancouver, Canada still rise? The Canadian property market is extremely hot in 2020, especially after the full outbreak of the epidemic, most of the property market has been almost sold out, and sales have repeatedly set records.Please Visit: M2m condos sales office to Get Your VVIP Registration Today!
The data of Vancouver in the first quarter of 2020 are relatively stable, and even have a downward trend compared with 2019, but the trend has reversed after entering the second half of the year, especially the monthly sales and prices rose sharply in 8-9-10. The overall trend of house prices in Vancouver is still rising, and prices are still rising until 2021.
The average price of a detached house in Vancouver in 2020 was C $1431200, with sales up 29.5% compared with the past, but prices were down 1.7% from last year, but prices rose rapidly in the fourth quarter. The average price of an apartment is C $663200 and the average price of a townhouse is C $782500. In September 2021, the average price of a detached house is as high as C $1828200, the average price of an apartment is as high as C $738600, and the average price of a townhouse is as high as C $963800.
House prices in Vancouver have slowed down a lot since 2021, especially since June, although house prices have been rising every month, but the range has been basically maintained at 0.5% and 1.2%. The housing market is not as hot as it was after the epidemic, but there is still a state that the supply of housing falls short of demand. Although the number of new homes is small, the number of buyers continues to increase because Canada has maintained the lowest interest rate, currently only 0.2%. After entering October, the housing market has entered a new situation. after all, the economy is picking up and the population is increasing.
The hotter property in October is apartments, which are cheaper than other types of houses and can be rewarded in a short period of time. Because the epidemic has been brought under control, foreign students and overseas population are gradually pouring into Vancouver, and these groups will need a lot of housing in a short period of time, so apartments are the best choice. Under the influence of relevant factors, housing rents continue to rise, and the rate of return on apartment rents is stable and considerable, so the number of people who choose to buy or invest in apartments will gradually increase during this period of time. After all, the opportunity is rare.