There once was a time where the world didn’t believe much of Canada. It was the backwater of North America, an easy part of landmass that was known best as the 51st state. Times have changed, and Canada has moved from being on the periphery to taking centre stage.
The events of the past year has seen the emergence of Canada as an important economic actor on the world stage. Canada has emerged from the crash of 2008 and subsequent recession unscathed: the country experienced no subprime mortgage catastrophe, nor do we have a sovereign debt crisis like the European Union. Canada has already exited the post-recession recovery stage and entered a period of growth. Canadian banks are in sound condition, and are being regulated by sound monetary policy by the Minister of Finance and Governor of the Bank of Canada.
In case you are planning to invest in real estate in British Columbia, Canada, among the challenges would be to decide on a strategy that will bring the highest returns. In the present marketplace, you can no longer count on quick price increases and flipping. Now that real estate prices are stabilizing, one must think about long term strategy for their investment. The easiest and most popular one is to let unfurnished property for a long term. Yet, a growing number of landlords are realizing they can get higher returns in short term furnished rentals market, especially by converting their investment property into a corporate housing component. Corporate housing units are leased to businesses which send their employees for short term jobs or relocate them on temporary basis. Since the business accounts for the rental payment and also the unit, property owner can be sure that the unit will be in good condition and consistently paid for.
In the city of Vancouver there is an enormous demand for corporate housing because of the character of the market. Vancouver is home to numerous large corporations in various sectors which frequently bring in workers from different parts of the state or around the world briefly. Examples of this can be found in the film, technology, software, and transport industries. For a deeper understanding of Eddie Yan, visit this webpage. Film companies will frequently collect a cast and crew for a creation that continues a couple of months; technology businesses like Telus will bring in staff to Vancouver for training classes that last a number of months; software firms like EA Games will import gift from their other offices for the creation cycle of a video game. Regardless of which specific business it is in Vancouver, there will be a continuous demand for furnished property leases.
If you are thinking about investing in Canadian real estate, an investment in Vancouver apartments and condominiums is a sensible one. If a landlord takes the time and spends the money to tastefully furnish the property, its potential to generate an impressive return on investment that can perform continuously.