Investors eye ‘world’s most liveable city’

One of Canada’s most desirable cities is attracting the attention of property investors…

Vancouver and the province of British Columbia, Canada, have the economic indicators, quality of life, and regulatory provisions in place to provide property investors with a safer environment for their money.

Local people express wonder at prices of $750 per square foot downtown - compare that with $3-4000 in Central London (and $6-8000 in Knightsbridge), and there is clearly scope for growth. Combine those figures with near-zero rental vacancy rates and continued immigration (an extra 51,000 people are expected to move to the province during 2008), and that scope for growth is great.

The real estate market is becoming increasingly international, with investment across national borders. In London (UK), the impact of new international money: from Russia, India, China and the Arab States has been a major driving force in price rises. In British Columbia, the growth of the Pacific Rim economies and the exponential rise in China's fortunes are having a significant effect, particularly in Vancouver.

No restrictions on investors

A spokesperson for British Columbia Properties explained the attraction: â€œVancouver and the stunning province of British Columbia in which it is set, is now attracting buyers of residential and recreation real estate based on those international benchmarks, as opposed to those of the local populace.

”The ‘World's Most Liveable City’ boast was inevitably going to start attracting greater numbers of investors and migrants in because, by contrast, so much of the world is seemingly becoming less and less ‘liveable’.

”Whatever constraints exist on personal immigration to BC, no one is prevented from investing for profit, for vacation and recreation purposes, to perhaps gain a foothold for a future move, or to have some alternative place to call home. Henceforth, Vancouver real estate should always achieve the highest prices in Canada.

”And just as the world is waking up to the fact that British Columbia is an amazing place to live and to own real estate, the City of Vancouver and Whistler are about to climb astride the marketing rocketship called the 2010 Winter Olympics.