In my free time lately I’ve been doing some research about different cities to consider buying property in. I’ve been mostly looking at major cities that are making a splash in the global market. So, I’ve actually looked all over the world. I’ve looked in Australia, cities like Sydney, Melbourne, and Adelaide.
I’ve looked in Europe cities like London and Paris, even Munich. Of course looked all over the USA, San Francisco, Los Angeles, New York City, Philadelphia, Seattle, Portland and even New Orleans. In Canada, I looked at Toronto first. What I realize though, was the city with the most intriguing real estate market over the last half-decade or so, is not any of these major cities that we might have expected, it’s actually the city of Vancouver.
Other than the fact that they hosted the Olympics a few years ago, and it looked absolutely beautiful, I guess I just had never a reason to pay attention to Vancouver in the past. Is that weird? I guess I didn’t realize how important the city was becoming on a global scale. Right now their real estate market is one of the most interesting in the entire world. It’s incredible.
Over the last five years the amount of growth in the worth of properties there has gone up as much as 70%. So, as a potential investor, I wanted to discover whether these properties we’re going to continue to rise or whether this bubble was going to burst. I sent an email to a Vancouver Realtor, and maybe I lied a bit and I told him that I was super interested in hearing about Burnaby condos for sale. He was very patient with me. He told me all about his opinions, and he was very honest regarding the fact that he had no idea whether property prices were going to continue to soar, but he did tell me that a lot of the investment that comes into the city is foreign and that for many reasons that seemed unfathomable for the market to crash.
Also, I emailed another realtor as my husband showed interest in some Coal Harbour Condos for sale we saw in an ad. So we will check them out too when we go to the place.
So, I guess I’ll have to do more research into this. Does anybody else know anything about the Vancouver real estate market?