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Why is Real Estate in BC so expensive?

Posted by Aedis Realty on September 27, 2014
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Why is Real Estate in BC so expensiveThere are numerous reasons why Real Estate in BC is expensive and economists, speculators, and government officials have tried numerous equations and explanations to try to pinpoint why our province is in such high demand. We are neither of the three listed professions but we are Realtors and we have experience in a fluctuating market where the media reports a bubble but prices continue to climb. It could pertain to numerous factors including climate, tech industry, natural resources, lifestyle, and the beauty of the west coast. Even if mortgage rates are rumored to go up, people keep buying real estate getting their toes into the market. Perhaps after going through some of the reasons we have provided you might begin to understand why there is such a demand for Real Estate in BC.

Climate

The climate in BC has five different zones: Coast Mountains & the islands, The Interior Plateau, Columbia Mountains & The Southern Rockies, Northern and Central Plateaus & Mountains, and The Great Plains. These five diverse climate zones provide the citizens of BC with a varying environment that allows them to partake in a myriad of outdoor activities, agricultural practices, and diverse closets (inside BC joke).

Coastal winters are temperate so if the snow decides to fall it will not be staying long making a raincoat (Mountain Equipment Co-op is the West Coaster’s choice) a necessity. However, the interior of BC enjoys freezing temperatures and season long snow drifts allowing for many cross-country, downhill skiing, snowshoeing, and snowmobiling options.

Spring and Fall are favorite times of year for many of us living in BC as they are warm and pleasant especially in the months of June and September. The coastal colors of  Fall provide a pleasant change in the scenery and are matched by the Spring’s cherry blossoms that provide a pink petal rain when it snows. In the interior temperatures are warm as the snow thaws and the flowers blossom as the growing season begins for the many orchards and wineries in the interior.

Summers are hot hot hot! Especially in the desert-conditions in the interior of BC. Camping and rafting are great activates for the weekend adventurer but the hard core hikers can go on mountain adventures that offer spectacular views. Coastal residents can usually be found on boats, bikes, and the seawall as they enjoy pleasant temperatures that allow for shorts and t-shirts. Given our great supply of craft breweries the summers are a perfect excuse to support a local brewery on a favorite local pub patio.

Tech Industry

Vancouver has been coined “Silicon Valley North” with many multi-national and local companies alike calling Vancouver home. With the likes of Microsoft, Facebook, Hootsuite, and Amazon having offices in Vancouver it is easy to see why some of the world’s top talent is coming to Vancouver. There is a constant competition for talent between start-ups and established companies making the climate in Vancouver one of growth and competitiveness. A great place to be for those with big tech dreams who want to become the next Steve Jobs but stay in Canada.

Natural Resources

Oil, Mining, and Logging have always been huge industries to the province in BC and they all show no sign of slowing down. Many people have moved to Vancouver in the hopes of catching on with these industries whether on a onsite role or in a management position there is a constant demand as these industries continue their speedy development. With what appears to be an endless supply, a newly redeveloped port, and additional pipe lines being added it appears that BC is definitely a province that is seeing an upswing in it’s natural resource market.

Lifestyle

British Columbians live the good life. The main city of the province – Vancouver – has been in the top five livable cities for the past ten years. Occasionally slipping in the rankings due to congestion issues (growing pains). However, that has not affected the lifestyle enjoyed in the province. We have access to varying climates and terrain making  it a paradise for anyone who enjoys an outdoors lifestyle. In any given sunny day in the Spring one can enjoy skiing in the morning and boating in the afternoon – it’s paradise. We also have many different cultural food options allowing for an adventure at every meal, a growing arts & entertainment industry, and cultural endeavors which always offer you something to do. BC is a fabulous place to call home, you just need to decide which part is right for you.

British Columbia has it all and it does so in style. Our province is beautiful and offers it’s visitors and residents so much. Whether you come for a visit or move here you will not be disappointed. You will quickly find out for yourself why Real Estate in our province is in such demand. People will always continue to move to the Pacific Northwest as we offer the perfect blend of climate, opportunity, and lifestyle making this the perfect place to start, change, or retire from any career.

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