The Truth About Real Estate - GVRD Market Update July 2014
(July 11, 2014
)
The Truth About Real Estate Metro Vancouver & Fraser Valley Luxury Market Update
Demand for luxury real estate in Vancouver is booming and should increase through the year, according to THE BC HOME HUNTER GROUP and our industry partners.
Eager home and property buyers snapped up almost 40 per cent more Million dollar plus condominiums and detached single-family homes in the first half of 2014 than they did during the same period in 2013.
According to our real estate team's luxury real estate report which analyses market trends for luxury and non luxury markets in Canada’s largest markets — Metro Vancouver/Fraser Valley, Calgary, Toronto and Montreal this trend will continue as the majority of the funds used to purchase at this level are coming from offshore. Metro Vancouver is part of the global real estate market not a localized domestic bubble. Our luxury real estate is often purchased and sold as others might buy and sell commodities on the various stock markets.
Those that purchase to stay often do so to allow their children to access our educational system and build intergeneration security in our safe and healthy environment. Do not look for that to change any time soon. We have all seen the glaring headlines in the media for many years screaming the sky is falling and the Metro Vancouver "bubble" is on the cusp of exploding.
Historic low interest rates and a robust western Canadian economy and security in our bank sector make the west coast and Canada a truly remarkable place to call home and invest.
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Join our trademark "Robin Hood's of Real Estate" Referral Program for Canada and British Columbia wide buyers and sellers referrals. Call Mandeep, Robert and Associates to Buy or Sell in 2014, 604-767-6736.
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