There once was a time where the world didn’t think much of Canada. It was the backwater of North America, an easy part of landmass that 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 past year has seen the development of Canada as an important economic actor on the world stage. Canada has emerged from the crash of 2008 and subsequent recession unscathed: the state experienced no subprime mortgage disaster, nor do we have a sovereign debt crisis such as the European Union. Canada has already left the post-recession recovery phase 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 decide on a strategy that would bring the highest returns. In the present market, you can no longer count on quick price increases and flipping. Now that real estate prices are stabilizing, one must think about long term strategy for their investment. The simplest and most popular one is to lease unfurnished property for a long term. However, increasingly more landlords are recognizing that they can get higher yields in short term furnished rentals market, especially by converting their investment property into a corporate housing component. Corporate housing units are rented to businesses which send their employees for short-term jobs or relocate them on temporary basis. Since the organization is responsible for the rental payment and also the unit, property owner may be sure the unit will be in good condition and always paid for.
In the city of Vancouver there’s an enormous demand for corporate housing because of the nature of the economy. Vancouver is home to many big corporations in various sectors which frequently bring in employees from other portions of the nation or across the world briefly. Examples of this can be seen in the film, technology, program, and shipping businesses. Get to learn more about Eddie Yan on this page. Film companies will often get together a cast and crew for a production that lasts a few months; technology businesses such as Telus will bring in staff to Vancouver for training classes that last a variety of months; applications companies such as EA Games will import talent from their other offices for the generation cycle of a video game. Regardless of which particular industry it’s in Vancouver, there is going to be a perpetual demand for furnished property leases.
If you are considering investing in Canadian real estate, an investment in Vancouver apartments and condominiums is a sensible one. If a landlord takes the time and spends the cash to tastefully furnish the property, its potential to make an impressive return on investment which will perform constantly.