All real estate in Vancouver, Canada

Location, climate, and economy

Vancouver is a city on the west coast of Canada, the largest city in the province of British Columbia and the third largest in Canada.

Maritime climate. During the summer months, there is predominantly dry weather with an average air temperature of +15-20 ºС. Vancouver is one of Canada's warmest cities in winter. Winters are mild and it often rains. The average temperature in winter is +3-6 ºС.

Vancouver's economy is highly diversified. The city is one of the largest business and industrial centers of the country. The Port of Vancouver is the busiest in the country. Tourism is of great importance in Vancouver. In recent years, the city has become the third largest film industry center in North America. The high-tech industry, in particular the computer games industry, also began to develop rapidly.

Real estate market in Vancouver

According to data released by the British Columbia Real Estate Association (BCREA), the Vancouver property market is starting to bounce back after a turbulent period fueled by pent-up demand and record low rates. Vancouver's housing market has entered a new cycle marked by declining buyer demand and a gradual increase in the supply of homes for sale. However, housing prices continue to rise. As a result, the Bank of Canada took a more aggressive approach to consumer inflation and runaway property prices by raising interest rates by 1% (from 1.5% to 2.5%) in July 2022, setting off a shock wave for market. Several more interest rate hikes are expected by the end of 2022. According to experts, a record price correction is expected on the market, which will last for about a year (perhaps until the first half of 2023). According to experts, by the beginning of 2023, the overall price of housing will fall by more than 12%.

The best areas to buy and live in Vancouver are: Downtown, West End, Burnaby, Kitsilano, West Point Gray and others.

Vancouver residential complexes being put into operation comply with building codes, which is confirmed by the feedback from buyers of new buildings. During the sale of projects under construction, developers offer promotions, discounts and installment payments. The reason for the interest in local primary real estate is investment security and consistently high rental income.

The cost of real estate in Vancouver

Residential real estate in Vancouver is expensive. High real estate prices in Vancouver are due to the fact that this is the main city on the west coast, recognized as the best place to live. The average cost of a two-bedroom apartment in downtown Vancouver is $370,000, and a private home starts at $600,000.

Property types for sale

Potential investors can choose from the following types of properties in Vancouver:

• residential (condominium, townhouse, detached house, duplex, penthouse, apartments, etc.);
• commercial (shopping space, office space, warehouses, industrial premises, etc.);
• land plots.

Vancouver real estate website

We recommend that you use only expert information and follow the instructions of specialists. The GEOLN.COM real estate website will help with this, since it has a convenient search interface, which presents the current catalog of verified real estate in Vancouver.

Buying property in Vancouver: the nuances of investing

According to Canadian law, foreign citizens can buy property in Vancouver (with the exception of recreational areas). In order to buy residential property in Vancouver, you must open a special trust account, the money from which cannot be used for other purposes, except for the purchase and sale of a specific residential property. Only after the apartment (house) is re-registered to the buyer, the seller gets access to the funds in the account. Buying and selling real estate in Vancouver is clearly regulated by law, which reliably protects the parties from fraud and the risk of losing money.

Buying real estate in Vancouver is a reliable and profitable investment that guarantees the safety and growth of assets in one of the best cities in the world with excellent infrastructure, ecology and living conditions.