Without any doubt, Vancouver made the top of the list based on a new CENTURY 21 study of Canada, which brought to light the prices of real estates as measured by their price for each square foot. On the other hand, the executive vice president of CENTURY 21 Canada, Brian Rushton, said the east side of Vancouver is a bit infamous for gem investors to make best use of. Although mostly confined within a few short blocks, the East Side of Vancouver is famous for being one of the most underprivileged, drug-addled zones in Canada. Further east, there is ample redevelopment taking place at a fair price for investors, which will reap a fit ROIs according to Rushton.
Rushton said; “Some of the areas that have done very well from an investor’s point of view, at least in the Vancouver marketplace, are in the east side of Vancouver. A lot of the older communities have been revamped and their existing structures lifted with new foundation, but the character has been left. The developers, the builders, the renovators have been able to capitalize on that quite effectively the last five, six years, and maybe even a bit longer. I wouldn’t say it’s the only place, but of the boroughs directly related to Vancouver, you’re better off east from a square footage basis. A lot of investors in the Vancouver condo market are in the presale market. The Investor might buy four or five units on presale, but they’re usually short-term investments that they’re going to cash out of.”
The up-and-coming real estate market in Montreal has been making headlines, despite it being the second-largest city in the whole of Canada, it has been a subject of political uncertainty oppressed by the local secessionist drive, which is why Vancouver (the third largest city in Canada) has advanced in most of its national banters. Downtown Montreal had an average price of $533.30 per square foot, which happens to be an astral incline of 468% for more than two decades, causing the metropolis of Québécois’s PPSF, which is the second-fastest on the rise nationwide.
Rushton said “I think what you’re seeing with the tremendous increase in square footage value is Montreal started out at a very low baseline when you look at the 1997 and 2006 reports. The baseline was considerably lower than in other major centres. That’s certainly a factor. There are a lot more rental tenants in Montreal as opposed to ownership, like in Toronto and Vancouver. It just hasn’t been a priority for a lot of Montrealers. Location and convenience and lifestyle were ranked very highly.” The change is still in progress and cranes are becoming a conversant site in the atmosphere of Montreal, and Rushton commended them for this.