For Canadians in the know, Mount Pleasant homes have always been a big attraction for newcomers to the area. Whether native Canadian, or newly arrived immigrants, Mount Pleasant real estate has proved a big draw over the years.
A Beautiful Area of a Beautiful City:
It’s easy to see why Vancouver as a whole, and Mount Pleasant homes in particular, are so attractive to newcomers. With its diversity of property, high employment prospects, and an attractive lifestyle, Mount Pleasant real estate has become a magnet for those wishing to settle in the area. Now though, is there a black cloud looming on the horizon?
Speculating to Accumulate
From its earliest days, Metro Vancouver has always had a very multicultural population, 43% of which is of Asian origin, the largest proportion outside of Asia. And all have mixed and gone about their daily business for over a hundred years. Now though, property and land speculation is becoming a greater issue in Vancouver, just as it has in many other large prosperous cities throughout the Western World, and the population are making noises of discontent.
Again, just as in other cities worldwide, it is the Chinese who are doing the speculating, but not resident Chinese. Mainland Chinese businessmen, moving their money out of China, are the ones causing this concern. Immigrant Chinese are as concerned as the rest of the population about these absentee investors. But, do Vancouver residents have any real reason to be that concerned?
Now Could Be the Best Time to Buy or Sell in Vancouver
Although Vancouver, like other major cities, is putting in place legislation to at least slow down the levels of property speculation, things aren’t all doom and gloom. In British Columbia as a whole, employment rose by a healthy 3.2% through 2015. This equates to 72,000 new jobs, and prospects for increased employment look good through 2016. Vancouver has always been a magnet for all types of industry, especially young light engineering companies. Although Hootsuite did it in 2008; as the digital world continues to grow, other IT companies are beginning to show greater interest in the area.
Certainly those thinking of selling Mount Pleasant homes should see a healthy return on their original investment, especially if they are long standing residents who have raised their family and want to downsize or move out of the area.
For those thinking of purchasing real estate in the area, contacting a Mount Pleasant Real Estate Agent now, such as those from Real East Van, should put you in the ideal position for being able to contribute to a growing economy, while looking forward to a healthy long term return on your investment.
Vancouver is the most ‘Asian’ city outside Asia. What are the ramifications?, VancouverSun.com
B.C. had Canada’s fastest year-over-year job growth in March: StatsCan, Biv.com