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Vancouver Home to Most Expensive Homes, Urban Futures

Posted by mjadmin on 8 July 2020

British Columbia is full of beautiful homes and gorgeous locations, but Vancouver takes the cake when it comes to the most expensive homes. A newly minted map published by Urban Futures shows that the biggest and most expensive mansions in all of Canada are found in the Vancouver area. Vancouver is well known for the residents who live there and their expensive taste. Apartments go for millions of dollars in this city and every aspect of living here pushes even the richest person’s budget. The downtown area has been a hot bed of opulent pent houses and decked out condos, but in the outskirts of the town you begin to see these super modern complexes aren’t restricted to the city’s limits.

For example, West Vancouver has the greatest concentration of expensive homes second only to Vancouver according to the Urban Futures map. The study only included homes that are worth $7million dollars or more so these are quite expensive homes we are discussing. They are also lived in properties and not mere real estate bate. The individuals who own the homes generate more than $18 million during each tax season, making the government a little bit richer.

According to Futures, Vancouver and West Vancouver are the only cities to have homes worth more than $20 million which is substantial to say the least. While most of Canada has been taking a hit in the housing market the price of Vancouver homes is only continuing to rise. It is seemingly immune to the problems surrounding both real estate and economic perils. The individuals who are purchasing and building these massive mansions have the income to continue to grow the Vancouver area and their money does just that.

The information coming out of Urban Futures map of the most expensive homes is significant for many reasons. First, it indicates a healthy local economy and demand for proprieties in and around the Greater Vancouver area, and second it lines out the future of the city. If home prices are high that makes investing in these properties easier to swallow for future investors and this in turn encourages new growth throughout the city. When millionaires flock to a location so does the average populace. The middle wage earners go where jobs are and millionaires tend to bring jobs with them in the form of investment.

In short, this new mapping of the most expensive homes proves that the Vancouver area is still a strong hold in real estate for the entire Canadian country.

Source by Mimi Tores

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