There once was a time where the world did not think much of Canada. It was the backwater of North America, a straightforward piece of landmass which was understood best as the 51st state. Times have changed, and Canada has went from being on the periphery to taking centre stage.
The events of the last year has seen the emergence of Canada as an important economic actor on the world stage. Canada has emerged from the crash of 2008 and subsequent downturn unscathed: the country experienced no subprime mortgage crisis, nor do we have a sovereign debt crisis like the European Union. Canada has already exited the post-recession recovery phase and entered a period of growth. Canadian banks are in sound shape, and are being regulated by sound monetary policy by the Minister of Finance and Governor of the Bank of Canada.
In the event you are intending to invest in real estate in British Columbia, Canada, among the challenges will be to choose a strategy that will bring the highest returns. In the current marketplace, 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. Nevertheless, an increasing number of landlords are realizing that they can get higher yields in short term furnished rentals marketplace, particularly by converting their investment property into a corporate housing component. Corporate housing units are leased to companies which send their workers for short term jobs or relocate them on temporary basis. Since the business is responsible for the rental payment as well as the unit, property owner can be certain that the unit will probably be in good shape and always 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 many large corporations in various sectors which regularly bring in employees from different parts of the nation or round the planet briefly. Examples of this can be found in the movie, technology, software, and shipping businesses. Read more thorough information regarding Eddie Yan here. Film companies will often assemble a cast and crew for a generation that lasts a few months; technology firms like Telus will bring in staff to Vancouver for training courses that last a variety of months; software firms such as EA Games will import gift from their other offices for the creation cycle of a video game. Regardless of which particular industry it’s in Vancouver, there will be a perpetual demand for furnished property leases.
If you’re thinking about investing in Canadian real estate, an investment in Vancouver flats and condominiums is a sensible one. If a landlord takes the time and spends the money to tastefully furnish the property, its possible to generate an impressive return on investment that will perform always.