West Vancouver real estate – A Safe haeven for investors
West Vancouver market
Along with many other real estate markets , The West Vancouver real estate Market set records for best-ever first quarter sales Exquisite sales soared in the first quarter of 2010 as strong buyers moved to take advantage of prosperous West Vancouver real estate market conditions across the country, according to an aritcle reported by remax Vancouver.
The RE/MAX upper End 2010 market report , highlighting sales and trends in 13 major Canadian centres (including West Vancouver real estate) and five submarkets, found that increased economic numbers , increased personal wealth, immigration and foreign investment all caused to a serious uplift in sales. near all areas experienced double and triple-digit increases during January and March of this year over 2009 figures for the same period. Nine out of the 13 real estate markets (including West Vancouver real estate market) examined (69 per cent) shattered existing records – setting new all-time highs for first period this year so far action in the upper end.
Recovery in the upper end Edit this text has been nothing abruptly of remarkable. This segment of the real estate market was hardest hit – and as a West Vancouver Realtor, I agree – West Vancouver real estate was no exception.
When the recession was on full throttle , West Vancouver real estate really took a low, —y et its comeback has been fast and furious. There is no doubt that mindset has changed and assurance has again come along very strong . One only has to look at the percentage up-swings in the West Vancouver real estate market to see the curren upward trajectory .
When so many are comparing this to be one of the worst 1st quarters for a long time – you can clearly see that the
bounce back in many areas – including West Vancouver, East Vancouver — is already beyond record levels reported in years past. Being a leader in terms of % increase in sales is Kelowna recreational market (seven hundred % ), Montreal (300 per cent ), Victoria (275 per cent ), Greater Toronto (263 per cent ), West Vancouver real estate (184 per cent)..
Real estate remains to whispper in the yar with investors at every price point . With the top end of the market shifting into high gear, every segment of the residential real estate sector is now maintaining in tandem. Despite the upward impetus, there are yet deals to be had – especially at the high end market points —a fact that is motivating affuent buyers to snag those properties – Especially in West Vancouver real estate
Improving economic numbers have been a major factor , boosting consumer strength levels across the country . The
tangibility of bricks and mortar has also played a role in record activity – a developing that began in 2008 as
affluent purchasers decreased their exposure to equities and shifted their earnings into real estate holdings. Up Swinging market – and portfolios – in the months ahead will advance contribute to real estate market activity.
Luxury sales as a percentage of the market have been steadily increasing in late(a) years – with the exception of 2009. With the increase in economy levels , it’s believed that the amount of wealthy individuals will begin to rebound , following two years of consecutive go down. This will follow to help increase Canada’s luxury market passing forward.
Heavy migration and foreign investment have also had a tremendous effect on the luxury Vancouver real estate – and in some markets , seriously improved sales – much like in West Vancouver real estate. Middle Eastern buyers , China buyers , and Europeans—to a lesser extent— bought in every market across the country. Canada’s sound banking outline, political strength , and the strengthening looney are attracting foreign investment – and that is spilling over into top end residential real estate. Most active in 2010 were business ceos, self employed, and professionals
Location was first and foremost among upper-end buyers, followed by a preference for newer houses or those that are turn-key (completely renovated). With the exception of Toronto, buyers could be relatively particular and take their time in making decisions as balanced conditions characterized markets across the board.
Given passable supply, prices are likely to hold even or experience lowly increases in the majority of markets in 2010. Canada’s most expensive luxury markets are shared equally among East and West , with West Vancouver real estate topping the entry-level price point for high-end homes at $2 million, followed by $1.5 million in Greater Toronto and Montreal (Island). Upper-end appraise markets were most abundant in Atlantic Canada and smaller centres in Ontario, where luxury home prices started at $400,000 in St. John’s, $450,000 in Halifax-Dartmouth, $500,000 in London St. Thomas, and $750,000 in Ottawa and Hamilton-Burlington. Winnipeg and Edmonton represented good value in the West at $500,000 and $850,000 respectively.
West Vancouver real estate carries the title for the most expensive home sold through MLS in the first quarter . The home — an 11,600 sq. ft. home on three quarter of an acre on the city’s West Vancouver side, changed hands for just above $10 million . Other noteworthy sales include: Just above Seven Million and a quarter in the Greater Toronto suburb of Mississauga, Six and a quarter million in Toronto’s central core, $5.75 million in Calgary, $5.5 million in Montreal (Island), and $5.3 million in White Rock/South Surrey. The most valuable MLS listings could be found in West Vancouver real estate market ($29.9 million), Greater Toronto ($23 million in Bridle Path), Vancouver Westside’s Shaughnessy area ($22 million) and Victoria ($19 million).
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