Vancouver’s real estate market is in perfectly good condition, and there are no signs of an expected bubble, even though there are bound to be some loopholes and encounters in the near future.
The state of the market at this point is in equilibrium, the market is not close to having a bubble. The founder and CEO of Anthem Properties Group, Eric Carlson also mentioned that as more people move into Vancouver this year, there will be more demand in that course of time.
At an Urban Development Institute that took place recently which was attended by about 1,200 people, rumour has it that most of the real estate professionals anticipate an increase of 10 per cent in the worth of home in Vancouver this year. According to the president of Concert Properties, Brian McCauley, there is need for more rental units to be made provided in the city in order to meet demands, citing that the rental stock in Canada is older than 30 years.
Andrew Grant, president of PDI Developments who anticipated a rise of 16,000 tech jobs to be available in Vancouver by the year 2020, made a request for the construction of more communities settling area around transportation centres
CEO and President of UDI BC, Anne McMullin said; “A wise person once said: ‘We can’t solve problems by using the same kind of thinking we used when we created them. Our housing crisis is not a new problem. We need to study the best practices of other cities and learn from their mistakes and successes. Together, with all the stakeholders, including three levels of government, business, urban planners, home-seekers, homeowners, transit, seniors’ groups, we can find some solutions.”