Luxury Real Estate in BC Weathers the Downturn Well, Appeals to Oceanfront Property Investors
The luxury real estate market in British Columbia is characterized by a relatively small market share in total residential sales. However, it boasts some of the most expensive properties in Canada, whose value is derived from the exposure to some of the most beautiful natural landmarks in Canada, popular recreational localities, and particular lifestyles. These properties have weathered the economic downturn well and will remain attractive because of their positioning in some of the most beautiful localities in Canada and the world.
Four areas of British Columbia, namely the ocean-facing Greater Vancouver, White Rock-South Surrey, Victoria, and the inland-located Kelowna, represent the major locales of luxury real estate in the province. These areas boast some of the priciest properties in Canada, with the minimum upper-end price thresholds ranging from $1 million in Victoria and Kelowna to $2 million in Greater Vancouver. Luxury properties in White Rock – South Surrey are …
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