Housing solution or problem
Fact that five out of 100 residential property owners are foreigners or non-residents has a significant effect on Vancouver property market. Many believe that foreigners twisted the housing market in this city. There were also outnumbering alarm calls and alerts for politicians to solve this problematic situation. Unfortunately, even with Statistics Canada report there are no clear answers about this, only debates should Vancouver focus more on foreign buyers and motivate them or do a quick fix about it to help its autochthon population.
Also, there are other problems regarding this topic like confusedness between non-resident ownership and immigrant residents who own property in Vancouver. For many people, immigrants are the main reason of creating less housing affordability. All in all, It is a two-sided sword for sure. As there will always be people who are afraid of foreign capital that inflate the house prices there will also always be those who believe in a general increase of income and growth by foreign investing. This is why it is always the best to find some non-discriminatory approach including both sides.
Commercial real estate and foreign investment
Canada presents a really attractive market for foreign investors thanks to its stability in the property sector including a low dollar. Montreal, Toronto and Vancouver are leaders when talking about this. One of the largest foreign investments making over $1 billion was buying the Vancouver’s Bentall Centre. We may say this shows real significance and certainty about Canadian real estate investment. Vancouver especially presents a really attractive location for Asian population.
Some even say it presents a financial safe heaven, especially with no foreign buyer tax regarding commercial properties. Vancouver also presents one of the cities with lowest downtown office vacancy rates across the wide North American region. Foreigners see real potential in Canada, especially Vancouver and they want to use it, simple as that. Selling rather than leasing in Canada attracted people all over the world.
Quick tips from Vancouver for investors
The situation in Vancouver shows that many people are using residential real estate to invest in their retirement plan. There is no great solution about getting high returns while purchasing a property but there is a strategy of being quality informed about average rental rates, vacancy rates and neighborhood amenities which will surely help anybody make right decision while minimizing any risks. Also, facts like knowing tax implications and where to get the right mortgage or finding a trustworthy real estate company will surely get anybody on the right track. It is important to have a decent budget, getting informed about price ranges, get a wide picture of real estate trends and not rushing while achieving your perfect goal.
Real estate markets all over Canada are keep growing and growing number of population overseas is having a goal to be a part of it. This should be used in the best way how for foreigners also for authentic Canadians which made a foundation of this golden possibility.