As the housing market continues to heat up even though the summer is winding down line ups are developing outside brand new developments in the False Creek area. Potential home owners are queueing up hours or days in advanced for the chance to purchase these new condos/townhouses in desirable areas.
To buy a home in Vancouver, buyers require more than just a down payment these days. They need to try something more aggressive, unique and always more money helps.
You can even hire Vancouver REALTORS® to camp out in some of these line ups for certain developments to hold your place in line if you are an out-of-town buyer. It just shows that some of the industries experts are changing the way they play the game.
A great deal of the sales are from foreign investment buyers that buy property and then flip them for a profit. This sort of short term investment has encouraged prices to increase but mostly for the local home owner. Some have suggested a speculation tax that is added to investment properties that sell within a certain timeline. However, this may adversely affect the provinces housing market.