There is a very good reason. Earlier this year new mortgage implications were introduced to correct the market. In result we saw a slow start to the year and prices took a dip. It has been two years since the foreign buyers tax was introduced and the demand from the Foreign Buyers fell significantly ever since. Now if you look back at history what goes up must come down and what goes down eventually must come back up and this time with a surgence. If you are a buyer/investor you obviously want to buy at the lowest point on the graph but to execute this in reality can be a tough task. According to Juwai (The #1 Chinese International Property Portal) buyer inquiries from China in the third quarter of 2018 catapulted to the highest levels we have seen in the last 2 years, a whooping 131%. With prices dropping to a bargain it’s no wonder that the players who have been waiting on the sidelines for this moment have awoken! If you are a buyer or investor looking to get into this market now is the time to start doing your homework!
Usually the best bargain attainable will be in December a couple of days before Christmas. After absorbing the advice of many top agents they all had one thing to say, December is the best time to buy. Many people need to sell because property taxes are increasing to levels where it is very difficult to afford the lifestyle people want, they need the money for daily life, and or they have debts to clear before the new year arrives. That is why now you should be doing your homework if you are looking to make moves.
Check out Nick Neacsu’s podcast Real Talks where he interviews top producing realtors and in one of the episodes they touch this topic. Nick is a top producing agent from the prestigious properties of West Vancouver and if you listen to his podcast he tells you that this December he is going to be house hunting for himself! A couple of days before Christmas to be exact! Now when someone like Nick is offering this free advice you’d be a fool not at least look into what he is talking about.
At the end of the day Vancouver is the best place on earth in my humble opinion. One of the only places in the world where you can go skiing on fresh snow, than head down to the beach lay down in the soft sand soak in some sunshine or go for a refreshing swim, than go for a hike at the grouse grind, you simply can’t find this kind of beauty anywhere else. Knock on wood we have been pretty lucky with natural disasters as well. Although the fault line does run up the west coast it is still pretty far away for us inland, the fault line actually falls just west of Vancouver Island in the Pacific Ocean.
Not only do we offer the best geography but we have the most diverse culture. From all races, sexual orientation, beliefs, Vancouver offers all of the best the world has to offer. Now taking all that into consideration and Vancouver still being undervalued on the international market it is no surprise that foreign money is looking to buy this near future even with the foreign tax implications. Real Estate prices are going to be at a bargain. Vancouver is home to many successful people and the world is now taking notice. Immigrants from around the world want to move to the best place on earth for a reason. The land of opportunity combined with safety and acceptance for individuals and religions. We have thousands of people coming into our city everyday and the demand will always be greater than the supply. Prices will fluctuate but when it is all said and done your investment in this city will pay dividends.