| Vancouver is really getting its act together | | | | smaller initial investments. |
| when it comes to the property market. | | | | |
| | | | By doing this, it is possible to be part of |
| In KPMG's Guide to International Business | | | | the real estate action without having to find |
| Costs that compared the costs of doing | | | | the full property price. This is particularly |
| business in 128 cities across America, | | | | useful when it comes to the larger commercial |
| Canada, Europe and Asia-Pacific, Vancouver | | | | opportunities. |
| was ranked sixth in the world and the most | | | | |
| cost effective in North America. | | | | In particular, this has the advantage of not |
| | | | having to manage the property directly, while |
| For a start, business costs are a whole 3.1 | | | | at the same time allowing investors to make |
| percentage points below the US average. | | | | multiple smaller investments in several |
| Amazingly, Vancouver actually ranked as the | | | | different markets. For example, with an |
| place that is the cheapest to do business in | | | | investment of £100,000, it would be |
| all of the 17 sectors that were reviewed by | | | | possible to put £20,000 into five |
| the KPMG study and a full 12 percent cheaper | | | | different projects rather than having to put |
| than areas such as San Jose. | | | | the entire amount into just the one project. |
| | | | |
| It is little wonder, therefore, that | | | | The housing market in Vancouver is booming |
| companies are flocking their in droves to set | | | | and prices, on average, have leapt over 30 |
| up companies in the area and this sort of | | | | percent a year, recently. Moreover, there |
| inward investment is bound to have a positive | | | | seems to be no sign of the market slowing |
| effect on the housing market, as unemployment | | | | down in the near future, although some of the |
| levels become much lower. | | | | more cautious investors have now started to |
| | | | express concerns that the property may have |
| Currently, the population of Vancouver is | | | | already reached its peak and is heading for a |
| around 2,210,000 and this is increasing quite | | | | fall. |
| rapidly, largely due to the booming | | | | |
| commercial market. The fastest growing | | | | Prices are incredibly high in Vancouver and |
| sectors are biotechnology, information and | | | | it is not unheard of for even modest |
| communications technology as well as | | | | properties to reach the magic million dollar |
| engineering and environment. | | | | figure! Whilst this causes some investors to |
| | | | be cautious, there are certain factors that |
| Not only is this large increase in the | | | | will always make Vancouver a popular choice. |
| commercial world driving residential property | | | | |
| prices, but it is also having a huge effect | | | | Vancouver cannot grow any more; it is |
| on the commercial real estate market. | | | | surrounded by mountains and water and simply |
| | | | has nowhere else to go! For this reason, it |
| Unsurprisingly, this massive increase in the | | | | is unlikely that the property market is going |
| real estate market has resulted in many | | | | to drop any time soon. Pricey as the market |
| investment opportunities for those looking to | | | | may be, it seems that there is still a lot |
| cash in on this booming region. There are now | | | | more to be gained from this property hot |
| multiple schemes in operation that allow | | | | spot! |
| individual investors to join others with | | | | |