Spring 2003 Market Update – Vancouver Real Estate

February 15, 2003

Spring 2003 Market Update

Charging out of the gate at an alarming pace, the market in the New Year took about 24 hours to recover from the holiday season. Spring is upon us already in Vancouver (cherry blossoms in February) and the relentless demand for condos continues, with both first time buyers and investors continuing to cash in on low interest rates and a chance to purchase long term security.

The rental market has been sending a different signal of late, with higher vacancy and lower revenues, not surprising when you look at the number of potential renters who bought last year and the number of new investor owners looking for tenants.

Nonetheless projections for both the short and long term are positive, with maybe just the potential for a blip in the medium term. Timing is everything in real estate and when you sell is often just as crucial as when you buy.

For a translation of the above into English, please feel free to call Duncan anytime!