the rest of BC
Posted in Summer 2011
The 2010 Olympics, similar to the 1986 Expo, has further propelled Vancouver into an international class city. Fueled by the intense media coverage of the 2010 Olympics; the energy, beauty, multi-culture uniqueness and other aspects of Vancouver have been further appreciated by an increased numbers of international and national population. Further cemented the status of Vancouver as being a major international class city.
Real estate in Vancouver has since then become a “hot” commodity amongst many international and local home buyers; either for their own use or for investment purpose. There is no sight of slow down in the Vancouver real estate scene.
CMHC (Canada Mortgage and Housing Corporation) predicted that, a growing population and steady job market will support moderate to high growth in demand for home sales and further support supply of new home construction in 2012. New home construction in the Vancouver area is forecast to increase twelve per cent in 2011, based on growth in multiple unit construction.
Posted in Spring 2007
The 2010 Olympics may still be three years away from Vancouver, Whistler and the rest of BC, but many plans and projects are already well under way and changes can be seen all over the lower mainland.
Everyone seems to have an opinion on the 2010 Olympic games in Vancouver, but like it or not, they’re on their way and major changes are beginning to take place in most places you look.
The 2010 Olympics will put the lower mainland and the greater Whistler region in the spotlight and ultimately increase international desire to visit or relocate to this beautiful area of the world. This increased demand will have multiple effects on the province of British Columbia as well as current residents as the economy booms, real estate escalates and transportation improves.
One main group feeling the preliminary effects of the approaching games is the developing, housing, and real estate field. Because of the early surge in population, there is a greater demand on housing and this is only expected to increase as the games draw closer. New housing developments, condos and townhouses are popping up everywhere to compensate for the current and predicted increased demand for housing in BC. If you have been thinking of buying or renting a home in British Columbia, it is recommended that you act quickly and buy rather than rent. As the demand for housing increases in the lower mainland of BC, prices will be heading steadily upward and the long-term effects that this will have on renters is still unknown. Buying now will also give you a good chance to see your property value increase as the games draw closer and there will be a greater chance of a profit to be made if you plan to sell.
It is estimated that there will be 77,000 person-years of extra permanent employment with an incremental $2.6 billion in wages, salaries and benefits. This, combined with the excited buzz around the city, is a large reason for the current population increase; many young people are now seeing British Columbia and the lower mainland as a land of opportunity, especially for those in construction or similar trades. It is predicted that the effects will escalate towards their peak in 2010 and then drop sharply but remain significant in the years following the Olympics. Hosting the 2010 Winter Olympics will also leave the lower mainland with many suitable buildings as well as greatly improved transportation routes, which will make Vancouver a more appealing location for future events. The continued growth and success of Vancouver as a city raises the figures to 100,000 person-years of employment and $3.6 billion in wages, salaries and benefits.
With the improvement of roads, highways, and transit systems, living in the lower mainland of British Columbia may just be more of an ideal location for many Canadians than ever before. Along with the improved economy and status, BC will still have all of the amazing features it has to offer today once the Olympics are over – skiing and snowboarding, hiking and rock climbing, sea kayaking and sailing; nearly any outdoor activity one could wish for.
The Olympics will serve to stimulate the economy and show the world what those who live in British Columbia already know; that BC is a beautiful part of Canada and Vancouver has all the potential to develop into a city that gets the attention and international interest and respect that it deserves.