Why You Need To Invest In West Vancouver Real Estate2017-09-11 17:34:35 Posted By Amir Hamzehali
West Vancouver, a waterfront community, has mountains to the north, Burrard Inlet and Howe Sound to the south and Capilano River to the east. West Vancouver is known as one of Canada’s most liveable cities.
It is also home to some of the most sought after real estate in the world.
This is due to its desirable location - panoramic waterfront and mountain views, safe neighbourhoods and close proximity to great schools to name just a few. It is one of the most affluent residential areas in the country.
When it comes to smart real estate investments, West Vancouver checks all of the boxes. West Vancouver is home to premium real estate thanks to the residential area’s highly desirable location and Vancouver continues to be among the most thriving economies in Canada with solid growth.
With that in mind, here are a few reasons why should invest in West Vancouver real estate.
Why You Need to Invest in West Vancouver Real Estate
1. Location, Location, Location
The term ‘location, location, location may be a bit overdone, but the point remains true. Location is one of the most important factors (if not the most important) when it comes to investing in real estate. After all, land never depreciates in value.
Again, West Vancouver checks all of the boxes. It’s why tourists flock to West Vancouver in the first place.
It’s close to all of the amenities, including shopping areas like Park Royal Shopping Center and Ambleside. It has nice neighbourhoods. West Vancouver tends to attract families looking to lead a quiet lifestyle. Downtown Vancouver is easily accessible.
It offers scenic, world-renowned views. In fact, many homes have views of Vancouver Island, the Lower Mainland and/or Howe Sound. West Vancouver is close to public transportation and home to great schools (again, all part of the reason why Vancouver is so attractive to families).
Lifestyle factors are also an important part of what makes a location a good one when it comes to investment. The lifestyle that West Vancouver affords its residents could make anyone want to live there.
It offers beautiful beaches and national parks, making West Vancouver easily accessible to the revitalizing power of nature.
All of this adds up to create premium real estate, which means that West Vancouver has all the makings the investment a profitable one. Here is a look at all that West Vancouver has to offer.
2. Booming Economy and Strong Rental Market
A recent analysis from MoneySense listed Vancouver as the 8th best city to buy real estate in. What set Vancouver apart from other Canadian cities on the list is its booming economy and strong rental market, both important factors when it comes to property investments.
In fact, according to the Conference Board of Canada, Vancouver will remain among the fastest growing metropolitan economies in all of Canada. The report concluded that Vancouver’s GDP growth will remain strong at 4.2%, in part due to the construction sector.
However, the point remains clear. Vancouver is thriving.
The analysis also found that rent in Vancouver increased nearly 23 percent in the last 5 years, with a low vacancy rate of just 0.7 percent.
3. The Market Is Still Hot
Although theories have pointed to the fact that Vancouver's market is in a bubble, there are also signs to suggest that the market can continue to thrive. After all, it is still considered among the best places in Canada to purchase housing.
Part of the reason the market may still be able to survive is because of migration, foreign investors continuing their interest in the area and low interest rates as just a few reasons.
The Bottom Line
West Vancouver remains among the top places in Canada to invest in. West Vancouver is home to one of the most desirable locations in the country and beyond. Vancouver’s economy is still as strong and booming as ever and it has a strong rental market, too.
Amir Hamzehali is the number one real estate in British Columbia and is a Royal Lepage Top producer (top 1% in Canada) who specializes in luxury real estate in West Vancouver. Closing $400 million in the past three years, Amir and his team are an undeniable asset.
If you are interested in buying or selling West Vancouver real estate, contact him here.