Why are Foreigners Flocking to Vancouver?

Sunday, January 19, 2014

Canada has seen quite a lot of growth in recent years – mostly from foreign nationals immigrating to the country. Of all the provinces, British Columbia, especially Vancouver, has seen some of the highest growth spikes, where the percentage of foreign residents have gone up to 41%.Many of the immigrants flock to Vancouver because of its status as a vital Canadian economic hub. With more and more people looking to reside in the area, current residents can benefit from buying condos for sale in Vancouver and renting out these condos to immigrants.

Renting out condos is a well-known business move that often results in a good return on investment (ROI). As such, those who are looking for alternative income to supplement their main source of income should definitely look into purchasing condos for sale in Vancouver, BC.

As with any type of real estate, condominiums are all about location. Choosing a condo near nightlife hot spots, malls, universities or public transportation can drastically raise its rent value, as well as its resale value. On a side note, try to find a condo near places that would interest the type of person you want to rent out the unit to (e.g. choose a condo near a University if you want to rent your condo out to a student).


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