A real estate bubble is characterized by a steep increase in property prices, followed by a drastic drop,—which is when the bubble bursts, so to speak. Such an event occurs periodically due to the effects of market forces; and impacts on various participants. Buyers, sellers, lenders, real estate agents, investors, and others players all feel, in varying degrees, the repercussions of a real estate bubble.
Vancouver Real Estate Bubble
Although a Vancouver real estate bubble scenario is not entirely impossible, it is certainly not something to be feared in the near future. While such a phenomenon occurs periodically in both local and global real estate markets, its adverse effects are just temporary; and can be mitigated in due time. The real estate market has a way of correcting itself until the balance between supply and demand is eventually reached.
Real Estate Boom
A real estate bubble can, in fact, be the prelude to a real estate boom. Even if it happens in places like Vancouver, the largest city in the western Canadian province of British Columbia, it should be considered a temporary setback at worst. There remains a healthy demand for available properties in Vancouver, with the city spared from the threat of shortages in real estate transactions.
Vancouver is one of the top ten most livable cities
It should also be noted that Vancouver has consistently made it to various lists of the top ten most livable cities in the world. The most recent poll, Mercer’s 2012 Quality of Life Worldwide City, shows that Vancouver topped all other Canadian cities. Vancouver now ranks fifth in the world behind Austria’s Vienna, Switzerland’s Zurich, New Zealand’s Auckland, and Germany’s Munich.
With such an outstanding billing in terms of quality of life and livability, who wouldn’t want to live in Vancouver? The city offers a variety of housing options, particularly at secure and conveniently situated townhouse communities in Fariview, Kitsilano, Mount Pleasant, Cambie, Fraserview, and many other places. No matter which Vancouver neighborhood you prefer, you can rest assured that you’re putting your money in the right place as the local real estate business remains quite resilient.
As such, no matter what market forces may indicate, investing in real estate in Vancouver looks like a win-win situation. You can ride out any temporary Vancouver real estate bubble phase, and expect to recoup your investment in due course. For unparalleled expertise and access to exclusive property listings, you can count on trusted realtors like VancouverTownhouse.ca.