Investments In Condominiums In Bc

British Columbia, along with much of Canada, has benefited from a robust real estate market

. Likewise, condominiums throughout the province, but especially Metro Vancouver, have provided investors with an unparalleled opportunity to turn real estate into profits. As rental vacancies throughout British Columbia's urban centres continues to fall, and rental prices continue to rise, condominiums represent a great way to increase cash flow without the expense that is usually associated with investing in a home or commercial property.

As of the end of 2011, the rental vacancy rate in the Greater Vancouver Regional District (GVRD) had fallen to about 1.4 per cent, a significant reduction from the 1.9 per cent vacancy rate at the end of 2010. More importantly, rental increases are hovering around 2.3 per cent per year, which combined with the fact that Statistics Canada recently noted that BC population growth is outpacing Canada, and savvy buyers can see that condos and other residential properties make an exceptional long term investment. Indeed, along with Vancouver, Port Moody, Surrey, the North Shore, Kelowna, and even smaller communities like Squamish and Chilliwack are seeing unprecedented population growth.

The benefits of condominium investments in BC are numerous. First, condos are generally easy to rent as they offer affordable rental prices compared with larger homes. Similarly, new real estate investors will more easily raise the capital required to purchase condos, as their price tags are often a fraction of those of detached homes. The interest in real estate throughout BC is another benefit of condo investment. The real estate market throughout the province held up well during the economic downturn and within a few months of the beginning of the recession record housing prices were being achieved again. Foreign investment and rapid population growth ensure that condo investments will create cash flow in the short term and capital gains in the long term.

So where should you invest in BC condominiums; it is a rather large province, after all? Currently, some of the best investments are within Metro Vancouver. Surrey, Maple Ridge and Pitt Meadows, and Abbotsford in addition to the city proper are all attractive investment locales. Surrey is one of the fastest growing cities in Canada and provides some very affordable investment opportunities. In addition, new condo developments are commonplace throughout Surrey, a city that also provides excellent transportation to downtown Vancouver along with a high renter population.

Like Surrey, Maple Ridge and Pitt Meadows are growing at a steady rate and these communities offer rapid transit options to Vancouver and surrounding communities. With exceptional natural surroundings, beautiful parks, and excellent schools, these communities are very popular with young families; moreover, condo developments are also very common. Not surprisingly, Abbotsford is a great place to buy condos because of rapid population growth along with impressive growth in industry, business, and retail.

Without question, most major centres of British Columbia represent some great opportunities for condo investment. The province has a booming real estate market which virtually guarantees increasing housing prices, increasing rental rates, and low rental vacancy.

by: Gen Wright

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