After tax and supply issues, houses in Vancouver are so expensive because of the great appeal of living in Vancouver BC. The Vancouver real estate market is a very active market that has been experiencing massive growth over the past several years.
There are two main reasons that explain Vancouver's booming real estate market:
The desirable location of Vancouver
The ever increasing population of Vancouver
Then there are two main reasons why Vancouver's booming housing market creates a situation where homes so expensive:
Supply and demand issues
Canadian government tax
To learn more about the Vancouver housing market, it is recommended to speak with a Vancouver realtor.
Vancouver's Housing Demand vs Supply
The population of Vancouver is growing fast, with zoning and other regulations not making way for new Vancouver homes. More demand than supply creates an environment for a more expensive product:
Vancouver House Tax Effecting House Prices
The Desirable Vancouver House is an Expensive House
Nestled between the Pacific Ocean and the Coast Mountains, Vancouver boasts awe-inspiring landscapes. The city is surrounded by lush forests, snow-capped mountains, and picturesque waterways, creating a visually stunning backdrop. The nearby North Shore Mountains, including Grouse Mountain and Cypress Mountain, offer panoramic views of the city skyline, the ocean, and the surrounding wilderness.
Vancouver's location on the Pacific Coastline provides access to pristine beaches and a vibrant marine ecosystem. English Bay, Kitsilano Beach, and Spanish Banks are popular sandy stretches where locals and visitors enjoy sunbathing, picnicking, and breathtaking sunsets. The nearby Gulf Islands and Vancouver Island offer additional opportunities for coastal exploration and wildlife encounters.
Vancouver, BC, has a moderate coastal climate with mild winters and warm summers. Winter temperatures range from around 0°C to 8°C (32°F to 46°F), with limited snowfall and more rain. Springs are mild with temperatures from 6°C to 14°C (43°F to 57°F) and frequent rainfall. Summers are pleasant with temperatures between 15°C and 25°C (59°F to 77°F), longer daylight hours, and limited extreme heat. Vancouver receives abundant rainfall, particularly between October and March, and exhibits microclimates due to its geography. Overall, Vancouver's climate is characterized by its mildness, tempered by oceanic influences, and comfortable for outdoor activities year-round.
Vancouver Housing Cost Explained
Vancouver's Loction + Population = Increase in House Prices
Vancouver's population is growing fast due to the fact that Vancouver is a desirable location to live. However, Vancouver zoning regulation is preventing enough new homes from being built. Add on almost 30% tax on an already expensive house and you can see the issue with Vancouver's rising house costs.