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After the introduction of a new round of domestic real estate regulation and control policies, overseas life for the purpose of emigration or tourism and studying abroad is forming a new trend. at present, the more popular overseas home market includes Canada, Britain, Australia and so on. Collier International recently released an article on “Real Estate Canada”, detailing the situation of the local real estate market in Canada and the analysis of the hot area West Vancouver.
With the growing population of immigrants and overseas students, foreign real estate has developed rapidly in the past few years. To capture this demand, we have demonstrated many international real estate projects in China, such as the coast of Australia, London’s emerging Financial Canary Wharf (Canary Wharf), Vancouver and Toronto in Canada. Among these markets, we find that Vancouver is one of the markets, especially in Windsey and the area around UBC in British Columbia (Wensi for short). As the most livable city, Vancouver attracts many Chinese immigrants who pursue a high quality of life. As a result, the market has been in a growth mode for a long time and has been strongly sought after by many Asian real estate developers. This article will make an in-depth analysis of the driving forces behind the market and explain why people consider Wenxi.
Housing prices in the Greater Vancouver area have increased rapidly in the past three years, with an average annual increase of 12%. It was temporarily on a downward path during the global recession in 2008 and 2009, by about 15%, and quickly rebounded and returned to pre-recession levels. Compared with other major markets such as the United States and Europe, Canada is currently the most stable economy under the impact of the financial crisis, so its security is a significant feature.
For Vancouver’s fastest-growing region, prices are growing at an annual rate of 16%, much higher than the Vancouver average of 12%, and prices are also about 30% higher than the Vancouver average. This presents a development model similar to that in Shanghai in the past-properties with better locations and higher housing prices will bring a higher premium. We can see several major drivers of the Vancouver real estate market boom, such as the resources in the community, commercial areas and other major urban facilities and attractions, and the natural environment provided by the community, all of which attract a large number of wealthy immigrants to live. The driving force of demand has always kept prices at a relatively high level.
Next, let’s take a look at the rental situation in the Windsey and British Columbia communities. As we mentioned earlier, this area has a large number of British Columbia, which is the largest in Canada, so one of the main leases are students and parents. Let’s take the British Columbia region as an example, which contains 33000 students and 11000 full-time employees, with a total population of 44000. However, the supply on and around the campus includes only 736 unlisted residential units and 2808 listed residential units, totaling 3544, which is a big gap compared with the total population. In fact, only 27% of students and 12% of employees were placed on campus in 2011. According to research by McClanghan & Associates, more than 45% of students spend more than 40% of their time going there, and it takes a lot of time to commute to and from the campus every day. As a result, 43 per cent of students living outside the school want to be able to live on campus, which alone represents the potential demand for 14000 beds or 6000 homes.