08/03/2017
Summer Heat Wave! Not just summer when it come to the Vancouver real estate market! While strata properties were only created in the 60's, leasehold interest properties followed in the 70's, while the undivided interest property type was added in more recent times. Coop properties predated them all; created in the 40's as the method of ownership of an individual unit in multi-unit or apartment style building. Owners became shareholders in a company with assets limited to that property (land and building) while their shares provided the right to occupy by virtue of a lease and represented their prorated financial interest in the property.
Vancouver's climate and natural beauty made it a convenient vacation spot for Canadians and eventually a sought after retirement location. Vancouver's economic and geographic location as a gateway to Asia combined with Canada's welcoming immigration policies have seen huge increases in population. National and international events over the past three to four decades including The world Habitat conference, commonwealth conference, papal visit, Expo 86 and multiple professional sporting and entertainment events have put Vancouver on the world map.
In addition to it's natural beauty and convenient location, this port city offers clean streets, tolerant citizens, stable governments and economy and low crime stats. Unfortunately the central area has been stressed by the demand with it's limited land mass surrounded by mountains to the north, the U.S. Border to the south and the Pacific Ocean to the west.
Single family homes will always be coveted but fiscal reality dictated by rising land and constructions costs means all types of homes, including condominiums, principal, secondary or vacation homes and investment properties are all feeling the squeeze.
For those who have not been fortunate enough to visit our beautiful city and country, the internet has brought the world to them. Now everyone truly wants a piece of that postcard sent around the world and it is becoming more costly to share!
