VANCOUVER: SUPERSTAR CITY?

 An article published by The Province dated May 24, 2014

 

Vancouver: Superstar city or just a safe haven for global investors?

 
Vancouver is seen as a safe haven for global investors, a 'hedge city' to buy a home or condo to protect against business upheaval at home.

"There are a collection of cities around the world that offer that level of certainty." The New Yorker magazine compared Vancouver's sky-high real estate prices to so-called 'superstar cities' in the U.S. such as New York and San Francisco, where prices continue to climb at a steadier and steeper rate than other less-fortunate cities. View Vancouver West detached homes for sale.


VANCOUVER JUNE HOUSING REPORT

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 3,406 on the Multiple Listing Service® in June 2014.

Last month's sales were 0.6 per cent above the 10-year sales average for June of 3,386. The sales-to-active-listings ratio currently sits at 21.3 per cent in Greater Vancouver, which is the highest this measure has been since June 2011. View homes for sale in VancouverBurnaby and Richmond.

The total number of properties currently listed for sale on the MLS® system in Greater Vancouver is 16,011, a 7.4 per cent decline compared to June 2013 and a 0.4 per cent decrease compared to May 2014.

VANCOUVER CONDO REPORT

Vancouver condo report by Strategic updated July 4, 2014
 
Most China experts agree that there will be a price correction but that it will be manageable citing the ability of Beijing to sort out any problems.
Housing prices in China have been increasing at double digit rates and while there is tremendous demand for affordable housing, what is being built is not affordable.

Nationally , home prices are 10 times the median household income and in Beijing the ratio is closer to 22 times. As a result, wealthy Chinese investors/speculators have turned their attention to overseas markets.