Updated: Jan 13
It’s no secret that Vancouver, British Columbia has some of the highest housing prices in the country. However, did you know that it remains a real estate hotspot?
This coastal city is a massive tourist destination, with many finding themselves enjoying the Vancouver sun in the summer and partaking in various outdoor activities in the winter.
Needless to say, Vancouver offers something for everyone… Including real estate.
If you have been contemplating purchasing a home, and want a vibrant city to begin your chapter as a homebuyer in, here are a few reasons why Vancouver is the best city to buy real estate in.
1. Considerable Growth Rate
Vancouver has, and always will be, continuing to grow. Currently, with a population of just over two million people, Vancouver continues to be ranked as one of the most livable cities in the world and there is always a need for housing.
This growth rate is promising for real estate, as the market will continue to grow and expand no matter the state of the economy.
2. High Returns
Following the global pandemic, homes in Vancouver have been known to recover from the prices inflicted during the economic downturn. In June 2020, the market began to recover and hasn’t looked back since.
In the event of another economic downturn, it is safe to say that you will be secure living in a home that will continue to provide you with high returns. Everyone is always selling and buying, and many are looking to call Vancouver their home. Thus, making Vancouver a smart real estate decision with a substantial investment.
3. Great Business Opportunity
Vancouver has, and always will be, a place where people of all ages thrive. There is something for everyone, and the job market is constantly expanding and growing in ways that you can find employment opportunities just around the corner.
When it comes to real estate, many business owners are investing in Vancouver as a spot to grow their business on a global scale. With the rapid growth of the economy and the fact that Vancouver is viewed as having easy global access to various parts of the world, many business owners purchase property in Vancouver where they can focus on the growth of their company on a global scale.
4. Tourists and Rentals
Vancouver experiences a fluctuation of tourists all year round, no matter the season. Many are eager to experience the sprawling Vancouver landscape throughout the year, and we don’t blame them! Purchasing a home in Vancouver and turning it into a rental property or short-term vacation home for tourists is a great way to make passive income. Not only is this a great investment opportunity, but you will quickly start to see a return on your investments.
Call Vancouver Your New Home with Arise Mortgage
Whether you are seeking your next home, office space or anything in between, the inviting city of Vancouver can truly become the real estate opportunity you’ve been looking for to grow your wealth.
If you are looking for an extra hand when it comes to Vancouver mortgages, get in touch today! We’d love to embark on this journey with you.