The overall Vancouver real estate percentage increase is expected to be rise over the next 10 years. It’s no doubt that everyone, including new residents, are scrambling to get into the market as soon as possible. The Vancouver real estate market has been on an exponential rise, and there are no signs of slowing down despite the talk of an existing bubble. Although the whole of Vancouver has seen a healthy increase, owners in the downtown Vancouver core have seen the biggest returns.
Some quick numbers to show the increase from 5 years ago leading up to 2016:
Home Price Index for:
Lower Mainland, 36.73% Greater Vancouver, 39.05% Fraser Valley, 31.32%
Vancouver, being one of the most expensive but sought after places to live in Canada, and even in the world, is continuing to grow exponentially. Getting into the market as soon as possible is the best way to secure a healthy investment. Although the downtown Vancouver is on the higher end of the price scale, there are still many affordable areas within the Fraser Valley and Lower Mainland, perfect for new buyers, and professional millennials.
The future of Vancouver looks to be promising, and the numbers of course follow suite. The Vancouver real estate percentage increase for the next 10 years is as expected, and more for both land and condos: