Boon for Buyers: Prices of Condos for Sale in Vancouver Remain Stable

People looking to relocate to Vancouver, B.C., could surely use a bit of good news regarding the pricing of condos in the city. As of this year, the price of condos for sale in Vancouver went essentially unchanged or even lower in certain locations. An article by Frances Bula for The Globe and Mail reports on how Vancouver’s condo market has stayed flat:

“Although Vancouver has a reputation as one of the most expensive cities in North America for housing, condo prices stayed flat or even dropped last year, according to recently released assessment numbers.

That follows several years of the same pattern, which means overall condo prices are now seven to eight per cent lower in inflation-adjusted dollars than they were at the recent peak of the condo market in 2009, says one analyst.

While that trend is not thrilling for pre-2009 buyers who had hoped to see big jumps in real-estate values, it’s relatively good news for new buyers trying to get into the market […].”

Vancouver is a highly urbanized metropolis, with both its downtown and suburban sections primarily characterized by residential and office high-rises. However, one can’t deny that the city is known for its relatively high cost of living, but the quality of public and commercial services make it a risk worth taking for current and prospective residents.

Boon for Buyers: Prices of Condos for Sale in Vancouver Remain Stable

Despite the high cost of living, Vancouver has been ranked fifth most livable city in the world. The ranking was based on the data collected by the Quality of Living survey, wherein 223 cities were measured according to 39 factors. These included the political environment, personal and media freedoms, healthcare, education, transportation, housing, and recreation.

A lot of Vancouver’s condominiums can be found in the Greater Vancouver area, where communities like Burnaby, North Vancouver, Richmond, West Vancouver, Surrey, Langley, and New Westminster serve as the home of more than 2.1 million people. All the locales are regarded as their own municipalities, largely independent from Vancouver itself.

On the other hand, Downtown Vancouver is not one to get left behind. Encircled by the sea with direct access to the sea wall and numerous beaches, the downtown provides enough amenities for residents looking to unwind. The over 1,000-acre Stanley Park is the headliner. The weather isn’t bad itself. Vancouver sports a fairly temperate climate, with dry but comfortable summer months, and rainy months during late fall or winter.

There is only one way to experience living in the fifth most livable city in the world – try it for yourself! There’s a lot of affordable condos for sale in Vancouver, B.C. as of the moment, so grab the opportunity and call up real estate specialists like Vancouver Canada Homes now.

(Source: Vancouver Condo Market Stays Flat, The Globe and Mail, January 5, 2014)


About Jean Seguin

Jean Seguin has written 301 post in this blog.