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Vancouver home sales slide by more than one-third over last year
From The Vancouver Sun OCTOBER 5, 2010
By Brian Morton
Reuters news service is reporting that business travel is on the rise in the United States, so much so that many large hotel chains are preparing to raise rates. If they do end up raising rates, this would further solidify the argument that furnished apartments (like those from Golden City Rentals) are a much better deal for the business traveler than a hotel or motel.
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In this modern era, information and people flow freely around the world. Within seconds data can be on another continent; in less than a day so can a person. Geographical distances are no longer a concern when doing business, as the world is now one marketplace.
TORONTO -- Manitoba's household net worth increased by 5.9 per cent last year, while Canada's richest provinces saw smaller increases, as real estate values in some of the country's major markets declined.
Household net worth in Manitoba rose to $263,658 last year from $248,912 in 2008, while British Columbia and Alberta posted the smallest increases by far in Canada, with gains of 2.8 per cent and 2.5 per cent respectively, according to a survey by WealthScapes 2010, a division of Environics Analytics.
Although the weather last month would have you think otherwise, summer has arrived
in Vancouver! Any Vancouverite knows that July and August have more events packed
into them then any other month. If you happen to be in Vancouver on an extended business
or personal trip, and staying in one of Golden City Rentals' furnished Vancouver apartments
be sure you step outside and check these events out.
The Annual Chinatown Festival
There have been numerous stories published in the last week about Vancouver being the
'house hunting' destination of choice for wealthy families from mainland China.
The Vancouver Sun reports that a Chinese company known as SouFun has organized a
tour of the lower mainland in August which will come looking for listings priced in the
million dollar and multi million dollar range. When asked why interest in Vancouver
is so high from citizens of mainland China, the most common answers are
the availability of ocean front property and the excellent schools and
universities in the city.
In an interview with the Vancouver Sun, Angel Wang, a realtor with
Royal Pacific Reality said that Vancouver real estate is a bargain
compared to that on mainland China, which further compounds
demand.
Historically, the Vancouver real estate market has always been of
interest to the Chinese. When it was announced that the British
would relinquish control of Hong Kong, demand for Vancouver real
estate soared from wealthy Hong Kong citizens who were anxious
about the future of their country. While demand from Hong Kong
citizens has since subsided, it has been replaced by citizens
of mainland China.
This continued demand is a blessing for the Vancouver real estate
market, and all the industries that support or compliment it in light
of global economic trends. Vancouver's real estate market has
not undergone the sharp "market correction" that occurred in the
United States. There is little economic uncertainty in the
Canadian economy, unlike that of the Untied States and
the European Union. This is another draw for Chinese investors
as they are confident that their real estate will not rapidly
depreciate, and their investments are safe in Canadian banks.
After living in Vancouver for any period of time, recognizing local landmarks in film and
television becomes a simple task. Any Vancouverite will recognize the area around
the Vancouver Convention Center masquerading as a European city in the A-Team
remake is one example as is Simon Fraser University`s Academic Quadrangle as
the Caprica market in the television series Battlestar Galactica.
One of Vancouver`s nicknames in Hollywood North. This epithet comes from the
We are getting conflicting reports on the state of Metro Vancouver real estate.
While a number of reports and findings state that the market will undergo a slight
post Olympic correction, it will remain strong kept aloft by the perpetual "Lower Mainland"
real estate bubble. However, a new report by the BC Real Estate Association (BCREA)
says otherwise.
This report shows that over a twelve month period from May 2009 to May 2010 home
A new report released by RBC`s Economic think tank indicates that the Canadian
economy is expected to continue growing this year, and even recoup losses caused
by the market crash of 2008 and subsequent recession. The chief economist at
RBC, Paul Ferley, was confident enough to claim that the Canadian economy
would exit the recovery phase this quarter and enter into expansion.
However, in an interview with the QMI news agency on June 10, Ferley claimed his
If you are renting a Vancouver furnished apartment and here on an
extended business trip, you might get to know the city pretty well. You will
be familiar with most of the sights and sounds and know about the places
to go. The thing about Vancouver is that there are so many culinary gems
hidden around this city, places to eat and drink that only the locals know
about.
1) The Hub Restaurant and Lounge 1165 Mainland St www.hubrestaurant.ca
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