The short spring we had been experiencing has quickly turned into summer and with that the real estate market has also heated up. We’ve seen another push upwards in the market over the past couple of months. Sales of detached Vancouver homes are once again quite strong. It appears that the Liberal’s introduction of the 15% foreign buyer tax has been absorbed by the market, and foreign buyers just see this as another hoop to jump through to get into our market. This has locals scrambling for affordability and the bulk of transactions are coming from three segments of the market in my opinion:
1. Buyers that are moving up the real estate ladder, utilizing affordable money and equity to climb upwards in the market.
2. Downsizers that are cashing out of the market and buying winter homes and/or smaller condos which allows them to facilitate a turnkey lifestyle.
3. Foreign buyers that want their piece of Vancouver’s excellent clean lifestyle, world-class health care, great schools and stable political climate.
My team and I utilize our top 0.1% ranking of all greater Vancouver realtors to help our clients achieve success. This coupled with our industry leading marketing practices which include our ability to reach out to our over 5,000 client database, the leveraging of our long standing relationships with other top agents, and our outside of the box experienced thinking to provide our clients with the best service and advice available in the marketplace.