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Vancouver Real Estate - Why do Vancouver property is so expensive. And to put it plainly, Vancouver is simply running out of land to flourish. With all the location of Vancouver and her climate this wherewithal to expand is compounded. Vancouver has three geographical factors that are causing this land value problem . The American border prevents expansion south. Vancouver has ocean on the west and mountains towards the north. So with nowhere to build but up, so go the prices. You'll need almost a million dollars to buy the typical home. There are plenty of stories from real estate agents Vancouver of homes purchased and torn as a result of build a newer, more Luxurious home on the same property. Blocks of homes are already snapped up at over the selling price driving the general prices in the area up. Vancouver property is very popular by the Asian investor . Baby boomers from across Canada seeking a warmer climate will also be fueling real estate market. Vancouver's weather conditions are also attracting people from Asia. Where else is it possible to golf and ski go out for a upscale dinner. Canadians that often proceed to the Vancouver region are predominantly older seniors. Many of them use their retirement assets to get a house. This is simply not the popularity one could expect. Retiring where homes are less expensive is the thing that we'd anticipate seeing people do. Vancouver Real Estate - The largest foreign group buying Vancouver property originates from Asia. China economy is apparently creating many business minded people prepared to spend money on Vancouver. Vancouver real-estate prices seem to be a good deal compared to other cities in China. The established Chinese community in Vancouver is attracting people overseas. Town around China town plus the Richmond area are enticing. The Chinese community is well-established and quite large Having a definite Asian feel. Everything they need are located in over these areas. What you may might be looking for is close by . Vancouver may be listed since the second priciest city. If the average household earnings are when compared to the expense of running a home, Vancouver ranks second behind Hong Kong with cities like Ny arriving tenth. The incomes in Vancouver are generally low and also the Vancouver real estate prices high resulting in this kind of high ratio. The skilled labour force in Canada is diminishing but in a larger rate in Vancouver. The reason for this really is house prices being too high and wages too low numerous do not want to call home there. This makes it difficult for new skilled labour to maneuver in. The current recession hit the Canadian economy in 2008 and Vancouver property prices fell while they did everywhere. The difference here was the decline was less as well as the recovery sooner .Once again they went up against the trend and rose sharper than almost every other markets. With all the continued fascination with the Vancouver real estate market through the Asian investor and also the Canadian retiree, the marketplace will continue to surprise the experts. There is certainly talk of your market correction because how high can actually the costs go. It was also the discussion in 2002 when prices in Vancouver were reduced. If the prices increase further that happen to be capable of afford to reside in Vancouver. But history has shown that Vancouver is really a desirable city to reside in and people pays whatever it costs to reside there. Vancouver Real Estate - Can be a correction coming, no one can tell .If people continue to want to reside in Vancouver or invest in Vancouver property, prices should stay strong.