British Columbia Real Estate Report
by Adriana Noton
The large and spirited nation of Canada is host to many varied provinces. In the western coastal area is the vibrant province of British Columbia. The name means splendour undiminished, and it is plain why it is so called. The region has a gorgeous aspect which is globally recognised. Wonderful mountains, coastline and an abundant cultural heritage make it a desirable place to live. This is certainly so in the case of the city of Vancouver for instance, which has experienced a renewed interest in the variety of British Columbia real estate of late.
The British Columbia real estate market, though only recently emerging from a bit of a down period, has rarely been really flat. Indeed, it has usually bucked the trend despite the poor economy of the country overall in recent times. On the contrary it is currently doing very well and consumer confidence is on the rise. This augurs well for residential sales this year.
This upsurge in buyer assurance, greater demand and a below usual mortgage interest rate, has presented a buoyant scene for buyers. In fact, the word is out that real estate developers are learning that younger people as well as retirees are being pulled in right now. Vancouver in particular has been a fantastic attraction, and investors in real estate are joining home buyers in the hunt for their dream investment or home. There certainly is no lack of opportunities currently!
The expectation is that the regular price of residential property could rise by up to 2% in the area, and perhaps even double that in Vancouver at the absolute least. Victoria also, alongside Vancouver had near record sales in the last quarter. Even the Fraser Valley area has experienced an upsurge.
There are two stimulating new developments over in Oliver, B.C. which illustrate market buoyancy right now; Spirit Ridge and Canyon Desert golf resort, which are to be built on 13,000 hectares of prime land. Adjacent to the lovely Tuc Nuit Lake, there are over 450 home units proposed for construction.
Developers have said that the homes will be priced moderately within the market for either full or part ownership. The developments will be made up of a mix of golf course condos, town homes on the waterfront, and luxury hotel suites all located subtly around the splendid resort vicinity. 90 to 100 units will be around the Golf Lodge itself in a spectacular setting.
The region’s economy is set to receive a major boost as building continues undoubtedly impacting powerfully upon local tradesmen’s work opportunities. This is very welcome of course, as the spin-off will mean a huge growth in the tourist industry of the region. Plans that were place on hold to make a wine village have been revived also. These plans, focusing as they do on real country lifestyles wine, plus tourism will undoubtedly help to improve even more the region’s renown as one of Canada’s premier producers of wine.
Overall, it’s all kicking off in the Rocky Mountains and the spirit of the ancient trailblazers of yesteryear is still forging ahead. British Columbia real estate is enjoying a fantastic resurgence and the opportunities for the discerning investor and home buyer have seldom looked brighter, bright like the pure beauty that is British Columbia!
BC real estate offers ski condos that are perfect for a small family time. It includes everything such as kitchen appliances, and also offers fantastic scenery as well. If you’re plotting a vacation for this winter, remember to visit us.
http://www.mountainspiritresortandspa.com/
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