What changes are in store for real estate in Vancouver over the next five years? Here are some of our predictions. It can be challenging to tell what trends could hit the city, but here are the ones that seem the most likely
The Rise of Co-Living Spaces
There’s certainly a market for co-living spaces in Vancouver, and this trend will only continue to grow in the years ahead. These spaces offer residents a sense of community and all the necessary amenities that they need.
With the cost of living in Vancouver on the rise, more and more homeowners will be forced to downsize. This could mean opting for a condo or townhome over a traditional house.
More Pre-Construction Sales
Pre-construction sales have been rising in Vancouver in recent years, and this trend is likely to continue in 2022. These sales offer buyers the chance to purchase a property before it’s even been built.
More Luxury Condo Developments
The luxury condo market hasn’t taken off in Vancouver yet, but that could change in 2022. There are already plans for several new luxury developments in the city, with some even boasting penthouses that cost well over a million dollars.
More Mid-Range Housing Options
Some believe that more affordable housing options need to be built to make Vancouver more livable, and this trend will likely continue into future years as a result. Homeowners can expect to see mid-range homes pop up throughout the city’s various neighborhoods.
The Continued Rise of House Values
House prices have been on an upward trajectory for quite some time now, and there’s no telling when this trend will end. As long as the market remains strong, home values are likely to climb.
Vancouver is still a great place to invest in real estate.-
Vancouver is still a great place to invest in real estate, even in the current market. The city has a lot to offer both home buyers and investors, and its economy is only going to continue to grow in the years ahead. So if you’re thinking of buying property in Vancouver, now is the time to do it.
Property taxes in Vancouver are still relatively low.–
Another thing to consider when investing in Vancouver real estate is that property taxes are still relatively low. This could change in the future, but it’s an excellent opportunity to get a piece of the Vancouver market for now.
The rental market is also vital in Vancouver.–
And while rental prices have been on the rise in recent years, they’re still not as high as some other cities. This means that it’s still affordable to rent in Vancouver, and there are lots of opportunities for investors looking to buy rental properties.
These are just some of the top housing trends we can expect to see in Vancouver over the next five years. Keep an eye on them, as they could significantly impact the city’s real estate market.