Presale projects are synonymous with low hassle investing. They bring you the capital appreciation same as an existing property without any associated risks like maintenance costs, property taxes, occupancy status, and more. While this is true for all presale projects, the units for sale in the Vancouver area present an even more attractive choice for investors. Here are the reasons why savvy investors are lining up to get a piece of the booming market.
The Demand for Presale is High
The number of pre-sale units released and sold in Greater Vancouver are getting bigger and bigger. The pre-sale inventory has increased by 42% as compared to last year. This is proof of the heightened confidence of the developers in the potential of this market and they are not mistaken. September alone saw 352 units being sold in the Greater Vancouver area. This is a mind-blowing 245.1% month-on-month increase. The informed investors are moving and scooping up units that they know are going to bring them the high returns they like to see.
The Resale Market is Booming
The maximum returns on any investment can be realized if you invest at the right time. Right now, Vancouver pre-sale market is at such an inflection point. According to the Canada Mortgage and Housing Corp., Metro Vancouver are going to touch new highs in the coming years of 2020 and 2021. The average price of a home in the area can reach $1 million by 2021. Contrasting it with the price of $934,977 in 2017, it is easy to observe the incredible jump in only 5 years. So, if you get in at the right time, you can resell the property at a substantial profit. The prospering resale market is a big driver behind the demand for presale units as well. The investors understand that if they buy the right properties today, they are going to enjoy impressive returns in not-so-distant future.
Real estate in British Columbia is regulated by the Real Estate Development Marketing Act. There are many protections that the Act provides to the buyers in the province. For instance, the 7-Day Rescission Period which gives the buyer 7 days to cancel the purchase contract and without having to cite a reason. Other protection under the Act is that the developer cannot access the deposited funds until the construction is finished. Such protections make the presale projects in Vancouver highly seller-friendly and are hence extremely attractive.
It is All About Making the Right Moves
The intent to invest in a pre-sale unit does not guarantee to returns. it’s crucial to find a presale project in a promising location, backed by a reputed developer, and the one that offers a substantial potential for high returns. In this new-age gold rush, you have to ensure that you have experienced partners that guide you in the right direction. You need the assistance of a reliable real estate agent with decades of experience in presale projects, like me, to help you find the ultimate presale project for your investment.
Get in touch with me, and I’ll help you find the best investment option to suit your financial goals. Be my guest for half an hour for a cup of coffee at your favourite coffee shop to discuss your options.