There are many luxurious properties in the Vancouver area. The three major luxury home areas in the city are Coal Harbour, West Vancouver, and Vancouver's Westside.
Coal Harbour is located in downtown Vancouver, bordered by the financial district and the world famous stanley park. Over the past 15 years the area has been entirely redeveloped and is now home to upscale condominium developments, and luxurious hotels. A large marina borders the area, and is a large attraction to American visitors.
West Vancouver is an exclusive residential district located across the Lions Gate Bridge from Stanley Park. Located right on the ocean, the area is home to some of the most exclusive ocean front & ocean view estates in Canada. West Vancouver is also home to Cypress Provincial Park with mountain biking trails and a large ski and snowboard facility, and which will be one of the venues for the 2010 Winter Olympics.
Vancouver's Westside is one of the most historic communities in Western Canada. Located on a peninsula, the area is home to some of the wealthiest communities in North America. The University of British Columbia rests at the Western edge of the area, bordered by the lush "endowment lands" and parks. Beaches line the northern border and the prestigous Equestrian community named "Southlands" resides to the south. Many internation emabssies also have homes & property in the area, and the private schools are among the top in the world.
Our housing market is healthy and stable. The federal government
wants to keep it this way.
On February 15, 2010, The Hon. Jim Flaherty, Federal Minister of
Finance, announced changes to rules for government-backed insured
mortgages. To prepare for possible higher interest rates:
• Borrowers must meet standards for a five-year fixed rate
mortgage even when choosing lower interest or short term
mortgages.
• Borrowers will be able to refinance up to 90% of the
value of their homes instead if the current 95%.
• Borrowers buying a non-owner-occupied property for
speculation will require a minimum downpayment of 20% for
government-backed mortgage insurance.
These changes will take effect on April 19, 2010.
Diverse selection and favourable interest rates continue to
drive demand in the Greater Vancouver housing market.The Real
Estate Board of Greater Vancouver (REBGV) reports that residential
property sales in Greater Vancouver totalled 1,923 in January 2010,
an increase of 152.4 per cent compared to January 2009 when 762
sales were recorded and a 23.5 per cent decline compared to the
2,515 sales recorded in December 2009.
In terms of historical perspective, January ranked as an average
month for number of residential housing sales over the past decade,
with higher sales in January 2002, 2003, 2004, and 2006.
Over the last 12 months, the MLSLink® Housing Price Index
(HPI) benchmark price for all residential properties in Greater
Vanco...
Bank of Canada maintains overnight rate target at 1/4 per cent
and reiterates conditional commitment to hold current policy rate
until the end of the second quarter of 2010.
The Bank of Canada today announced that it is maintaining its
target for the overnight rate at 1/4 per cent. The Bank Rate is
unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.
VANCOUVER, B.C. - January 5, 2010 - After beginning the year at
near record low sales levels, buyers' confidence
in the Greater Vancouver housing market quickly returned, allowing
for significant and sustained increases
in the number of residential property sales for much of 2009.
The Real Estate Board of Greater Vancouver (REBGV) reports that
total unit sales of detached, attached and apartment properties in
2009 reached 35,669, a 44.8 per cent increase from the 24,626 unit
sales recorded in 2008, but a 6.3 per cent decline from the 38,050
residential sales in 2007.
The number of homes listed for sale on the Multiple Listing
Service® (MLS®) in Greater Vancouver declined 15.5 per cent
in 2009 to 52,869 compared to the 62,561 properti...
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