Real estate activity throughout the country was high in June, and Canadian real estate experts are generally optimistic that the trend would continue towards the end of 2014. The Canadian Press reported that home sales were up by 0.8 per cent, which were also 11.8 per cent higher when compared to last year. While experts are split as to how the Canadian real estate market would eventually turn out in the future, they do, however, agree that the industry is still the best it has been for years.
One of the high-fliers mentioned by the Press was Vancouver, which historically is one of the most expensive places in the country to buy residential real estate properties. In fact, the rate for renting an 85 m2 apartment space in the city can cost up to $2,500 a month. While the high cost of living means that only few people can afford to stay here, the wealth of opportunities that Vancouver provides also means that it is still one of the best places to live in Canada. Yaletown real estate professionals, like those from Vancouver Canada Homes, can even give people the chance to live in one of the city’s most prestigious neighbourhoods.
Originally an industrial district and a major railway stop, Yaletown is currently one of busiest places in Vancouver, after seeing an influx of more than 40,000 new residents for the last ten years. Most of the residential properties found in this neighbourhood are apartments and condos, which makes it more appealing to singles and high-paying professionals than large families. One thing that most people notice first about Yaletown is that the place is dotted with trendy boutiques, bars, restaurants, galleries, and night spots, especially those around Hamilton and Mainland Streets.
The details mentioned above could be enough incentive for new residents to look for Yaletown condos for sale. Aside from easy access to the district’s best hangouts and attractions, most condos in the area are quite accessible by Community Shuttle, Canada Line, SkyTrain System, and other forms of public transportation. There is also the simple fact that condos provide safety and comfort at all times.
That said, things are likely to heat up around Yaletown and other places in Vancouver as more people move to the city. If real estate sales continue to rise, there’s a chance that property developers will be forced to up their prices as well, which further increases the cost of living in Vancouver. Whether this should be treated as a good thing or bad thing remains to be seen.
(Source: June home sales up 0.8% from May and 11.2% from year ago, CREA says, 570News Focus Group, July 15, 2014)