Municipal governments are starting to put green standards in place for developers and builders to follow to help protect the planet. But will it really work?
The continuous demand for Vancouver’s high-end homes mirrors the hunger for this property type among Chinese would-be buyers and investors. A notable example of this is the 30-storey, 256-unit JOYCE development, the brainchild of developer Westbank. Over 3,000 interested parties attended its Vancouver sales gallery upon its opening in mid-June, and another 200 individuals visited its exhibition in Hong Kong just a week after launch. According to Luke Fehon, the Hong Kong-based managing director of Westbank, JOYCE is already 90 per cent sold a little over a month after its inauguration. “Vancouver has always been attractive to foreign home buyers — whether it’s for retirement, education or leisure,” Fehon said, as quoted by The Edge Markets, which counts Chinese users as a significant proportion of its readership. “From an investment perspective, Vancouver is a mature real estate market and does not experience large market swings like those in Asia.” Helping Vancouver’s popularity is the fact that it has consistently placed among the top ranks of the most “liveable” cities worldwide, being 5th in the Mercer Quality of Living Survey (2017) and 3rd in The Economist Intelligence Unit’s most recent poll. Related stories:
The survey shows that buying a home in a major city centre has risen 5% since last year.
The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.
Coming to Toronto May 14-15 is an in-person event discussing multifamily investing and the benefits it can have for new and experienced investors.
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