Nine Important Facts That You Should Learn About Canadian Real Estate
There once was a time where the world did not believe much of Canada. It was the backwater of North America, an easy piece of landmass that was known best as the 51st state. Times have changed, and Canada has moved from being on the periphery to taking centre stage.
The events of the past year has seen the emergence of Canada as an important economic actor on the planet stage. Canada has emerged from the crash of 2008 and subsequent downturn unscathed: the nation experienced no subprime mortgage catastrophe, nor do we have a sovereign debt crisis such as the European Union. Canada has already left the post-recession recovery stage and entered a period of growth. Canadian banks are in sound shape, and are being controlled by sound monetary policy by the Minister of Finance and Governor of the Bank of Canada.
In case you are planning to invest in real estate in British Columbia, Canada, among the challenges would be to choose a strategy that would bring the highest returns. In the present market, you can no longer count on rapid price increases and flipping. Now that real estate costs are stabilizing, one must think about long term strategy for their investment. The simplest and most popular one is to let unfurnished property for a long-term. Yet, a growing number of landlords are recognizing they can get higher yields in short-term furnished rentals market, particularly by converting their investment property into a corporate housing component. Corporate housing units are leased to businesses which send their workers for short-term projects or relocate them on temporary basis. Since the business is accountable for the rental payment and the unit, property owner can be sure the unit will soon be in good condition and consistently paid for.
In the city of Vancouver there is an enormous demand for corporate housing because of the character of the market. Vancouver is home to a lot of big corporations in a number of sectors which frequently bring in employees from different parts of the nation or round the entire world on a temporary basis. Examples of this are available in the film, technology, program, and shipping sectors. To get more information on Eddie Yan, go this website. Film companies will frequently assemble a cast and crew for a production that continues a couple of months; technology businesses like Telus will bring in staff to Vancouver for training courses that last a number of months; applications companies like EA Games will import gift from their other offices for the generation cycle of a video game. Regardless of which particular business it’s in Vancouver, there will be a continuous demand for furnished property rentals.
If you’re thinking about investing in Canadian real estate, an investment in Vancouver apartments and condominiums is a wise one. If a landlord takes the time and spends the money to tastefully furnish the property, its potential to make an impressive return on investment that will perform constantly.