WATCH ABOVE: Tom Davidoff from UBC’s Sauder School of Business joins Randene and Jay to talk about how people are choosing to live downtown rather than in the suburbs.
VANCOUVER – The condo boom continues in Vancouver and shows no sign of slowing down.
Looking at the real estate trend for 2015, it shows homeowners are choosing the city life over life in the suburbs, mostly due to changing demographics.
Vancouver is now ranked ninth in the world for the highest number of skyscrapers. The city currently has 663 skyscrapers with the tallest being the Shangri-La on West Georgia Street, which stands at 201 metres high.
Development is not expected to slow down anytime soon. Already pricey markets remain on fire this autumn while the rest of the country appears to be settling into what may amount to a long period of cooler activity.
“While housing is static in most regions, the opposite is true for three of the nation’s four largest cities, which are benefiting from an influx of immigrants and wealth, youthful populations, strong employment and record low mortgage rates,” Sal Guatieri, a senior economist at the Bank of Montreal, said in a new note last Friday.
Looking at the before and after street views of Vancouver shows just how much the city has changed in just a few years alone.
Three Harbour Green – located on the last available waterfront property in the Coal Harbour neighbourhood:
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The images are provided by Point2 Homes, a consumer real estate listings website.
– With files from Jamie Sturgeon
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