Vancouver: Diving Into One of the World’s Hottest Markets
Buying, investing and living in Canada’s most elite city
Whether you’re new to the market or are a real estate expert, you’ve probably been reading a lot about Vancouver over the last few years—and with good reason.
Prices and foreign interest had been surging more than two years before being tempered by government regulations and economic uncertainty. Nonetheless, the Western Canadian seaport city remains one of the world’s hottest luxury markets.
In this special section, we’ll explore interior-design In this special report, Mansion Global will preview new developments, give guidance on navigating what can be a complicated buying process for foreign buyers, and showcase the city’s rich culture, from dining to shopping.
Also, in this guide, you will get insider tips from listing agents, notable residents, and other experts that will give you an edge on buying and investing.
Rising interest rates, tightened lending and tax increases will pose a challenge to its years of rapid growth
Vancouver’s real estate market has been electric for the past few years. Prices in the British Columbian city have been soaring since 2015, but tightened lending, higher interest rates across Canada, the city’s new government and tax worries may dampen the mood.
“The luxury market kind of exploded in the last decade,” according to Romana King, who works with statistics and analytics at Zolo, a national real estate marketplace in Canada. “We’re now starting to see the decline of that.”
Prices were down 4.6% to and average of C$1.3 million (US$1.07 million) compared to the month before, according to the Vancouver housing market report from Zolo, which updates data in real time. That’s a 3.3% quarterly increase, but a 7.2% decrease from the previous year, as of June 4 ...Read More
From locations downtown to the edge of a wooded park, these five new developments cater to a variety of tastes
Vancouver has a crop of new condo developments ready for move-in now and through early next year. From artist studios to full-floor penthouses with expansive roof decks, a range of households sizes can be accomodated.
Of course, water views are important in a coastal city, and those—as well as views of Stanley Park—are covered in this roundup of new developments ...Read More
Home to a host of festivals, the city is often named one of North America’s best
Vancouver, British Columbia, is consistently ranked one of the best places to live worldwide. In March 2018, Human Resources consulting firm Mercer named Vancouver the fifth -best city in the world for quality of living, and the best place to live in North America for the second year in a row.
Despite being one of the most expensive places in the world to live, Vancouver has a lot going for its residents, including safety, educational resources, and environment—its surroundings and the quality of the air, among other aspects.
Vancouver is a thriving, cosmopolitan center in a breathtaking, natural setting. It’s also one of Hollywood’s favorite stand-ins for just about any U.S. city, and shares the title of “Hollywood North” with Toronto ...Read More
It is impossible to think about buying in Vancouver as a foreigner without considering the now- infamous tax on foreign buyers and speculators introduced in 2016 to make housing in the region more affordable and cool down an extremely hot market.
In Vancouver, foreigners pay a 20% tax on top of the purchase price. The tax was introduced because of the perception that Vancouver, the most expensive market in Canada, was becoming a parking ground for global capital.
Now approaching the end of the second year, many say the tax has not had its intended effect. Jerry Wang, of MacDonald Realty, a luxury brokerage in Vancouver, said that although the tax slowed the market at the beginning, foreign buyers are back in the game ...Read More
What they love about it, how the city has changed and where it is heading
We asked three of Vancouver’s hometown heroes—Hedy Fry, Canada’s longest serving female member of parliament, local business mogul Nolan Watson and chef Vikram Vij— what they love best about their city. They also recounted what has changed most about Vancouver in the last five years, and where they think the city is heading ...Read More
All photos & video care of Tourism Vancouver