| Vancouver is really getting its act together when it | | | | initial investments. |
| comes to the property market. | | | | By doing this, it is possible to be part of the real |
| In KPMG's Guide to International Business Costs that | | | | estate action without having to find the full property |
| compared the costs of doing business in 128 cities | | | | price. This is particularly useful when it comes to the |
| across America, Canada, Europe and Asia-Pacific, | | | | larger commercial opportunities. |
| Vancouver was ranked sixth in the world and the | | | | In particular, this has the advantage of not having to |
| most cost effective in North America. | | | | manage the property directly, while at the same time |
| For a start, business costs are a whole 3.1 | | | | allowing investors to make multiple smaller |
| percentage points below the US average. Amazingly, | | | | investments in several different markets. For |
| Vancouver actually ranked as the place that is the | | | | example, with an investment of £100,000, it |
| cheapest to do business in all of the 17 sectors that | | | | would be possible to put £20,000 into five |
| were reviewed by the KPMG study and a full 12 | | | | different projects rather than having to put the |
| percent cheaper than areas such as San Jose. | | | | entire amount into just the one project. |
| It is little wonder, therefore, that companies are | | | | The housing market in Vancouver is booming and |
| flocking their in droves to set up companies in the | | | | prices, on average, have leapt over 30 percent a |
| area and this sort of inward investment is bound to | | | | year, recently. Moreover, there seems to be no sign |
| have a positive effect on the housing market, as | | | | of the market slowing down in the near future, |
| unemployment levels become much lower. | | | | although some of the more cautious investors have |
| Currently, the population of Vancouver is around | | | | now started to express concerns that the property |
| 2,210,000 and this is increasing quite rapidly, largely | | | | may have already reached its peak and is heading for |
| due to the booming commercial market. The fastest | | | | a fall. |
| growing sectors are biotechnology, information and | | | | Prices are incredibly high in Vancouver and it is not |
| communications technology as well as engineering and | | | | unheard of for even modest properties to reach the |
| environment. | | | | magic million dollar figure! Whilst this causes some |
| Not only is this large increase in the commercial world | | | | investors to be cautious, there are certain factors |
| driving residential property prices, but it is also having | | | | that will always make Vancouver a popular choice. |
| a huge effect on the commercial real estate market. | | | | Vancouver cannot grow any more; it is surrounded |
| Unsurprisingly, this massive increase in the real estate | | | | by mountains and water and simply has nowhere else |
| market has resulted in many investment opportunities | | | | to go! For this reason, it is unlikely that the property |
| for those looking to cash in on this booming region. | | | | market is going to drop any time soon. Pricey as the |
| There are now multiple schemes in operation that | | | | market may be, it seems that there is still a lot more |
| allow individual investors to join others with smaller | | | | to be gained from this property hot spot! |