Vancouver’s white-hot detached house market started to cool in the second half of 2016, but apparently bounced back as of the first quarter 2017. There are major developments in the city of 640,000, both downtown and in the surrounding area – the redevelopment Oakridge, luxury high-rise projects like Vancouver House and 1550 Alberni St. – and condo prices are still increasing. Overall, the city’s real estate market seems to be settling at somewhat lower roar than its frothy peak of spring 2016. Vancouver is one of the few jurisdictions in Canada where the number of residents who hold a master’s degree is higher than the number of residents who don’t have a high-school degree. To that end, it’s emerged as a hub for the technology, digital entertainment film. Those sectors continue to thrive thanks to the favourable USD-CAD exchange rate and Canada’s more favourable business immigration policies.
