Monday, 19 May 2008

The Hot Vancouver Condo Market

Fancy investing in a condo where prices have gone up steeply in the last four years (a hefty 13% in 2007 alone)? Got the cool $1.1M price tag? Then Vancouver is the place for you. Such are some of the fascinating tidbits in the well-illustrated and well-packaged presentation Vancouver Condo Update given in mid April by CMHC analyst Robyn Adamache to the Mortgage Investment Association of BC.

Interestingly, Adamache forecasts a moderation of price increases to only 8% in 2008 and 5% in 2009 as speculative activity is decreasing and construction activity is at a very high level. No mention is made of the 2010 Olympics. That surely cannot dampen demand in the next few years but then what happens, especially as the stock increases with construction? Another boom to end and a flat or bust period to start again?

2 comments:

ian in hamburg said...

Every time I go back to Vancouver I'm astounded what an awful mess traffic has made of the place. Sure it's beautiful and highly desirable to live there, but unless they really get serious about public transport as a viable alternative to cars, they're headed for permanent gridlock.

CanadianInvestor said...

Oh, oh, going there myself in a month. Thanks for the heads up so I can get a little less frustrated. At least there are beautiful mountains to look at while stuck in traffic.

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