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2013 Vancouver Luxury Real Estate Market

BC real estate board predicted that Vancouver real estate market would go up in 2013 and 2014. They expected that sales volume will increase 5.6% in 2013 and 6.1% in 2014. It seems that after Vancouver housing market will finally have a strong up trend after low seasons in 2012.

Real estate board’s estimation was based on a few official predictions: employment improvement in 2013 and 2014; more full time jobs will be created, low bank interest rate and so on. I believe that the up trend will be mostly relevant to local people’s real estate home buying power.

On the other hand, most people believe that it will be those Chinese buyers who move Vancouver luxury real estate home market. I believe that those real estate homes with price between one million to two millions, will still be highly relevant to local economic situation. While those higher price tag luxury homes with price over four or five or even ten millions will be mostly moved by Chinese buyers. Since there are still a lot of uncertainties in Chinese economy, Vancouver luxury real estate home market’s future will be also unclear.

There are two kinds of Chinese buyers: new Chinese immigrants and old Chinese immigrants. For those new immigrants, they will never stop looking till they find good real estate homes to buy sooner or later. Because for Chinese, to own a home means they finally settle down in Canada. So it is very important for them.

For those old immigrants, they will no longer be so ambitious to invest and buy real estate homes like before. Instead they will be more cautious till they find the best deal.

That is what I think about 2013 Vancouver luxury homes market prediction. I believe that there will always be a good deal in any market situation even if you are looking to buy luxury homes now. Please contact us for any buying or selling inquiry.