Whistler’s Market To Benefit From Foreign Homebuyers

The demand from home buyers from outside the country is bound to get stronger as more foreign homebuyers will be flooding into the housing market in Whistler, as a result of the scheduled 1.4 billion procurement of the ski resort by the United States Company, Vail.

Relating to what Nicholas Soldan Harriss of Sotheby’s International Realty said to a new reporting company in Vancouver, the resort firm that is based in Colorado has a solid track record in getting real estate buyers that are financially endowed. Nicholas said that “Vail is a much more world-renowned market where property values are exponentially higher (by comparison). Sales there in the $15-million to $20-million (range) are more common.”

The United States dollar has an upper hand over the Canadian dollars, thus buyers from America are expected to be profoundly able to buy any property they want in the Whistler province; nevertheless, homebuyers from Asia are more likely to show interest. As for the buyers from outside the country who already own houses in Vancouver, they may not have any zeal to invest in the city because of the latest 15 percent tax for foreign buyers that has been imposed. This could be an alternate advantage for Whistler.

The prices in Whistler are rising and falling, increasing by 23 percent for a single-detached family property to $1.28 million (REBGV standard for last month), 32.3 percent for a flat at $353,200 and 25.4 percent for a townhome at $755,000.