Vancouver luxury home value softens while apartment value continues to rise, says report

Posted by Michael La Prairie on Friday, May 11th, 2018 at 12:49pm.

Vancouver luxury home value.

According to a new report, Vancouver’s real estate market might begin to see luxury home prices drop
as we move on to spring of next year.

Canadian real estate agency Royal Lepage said Thursday that the median Vancouver luxury home could be
looking at a price decrease of nearly $180,000 by the beginning of 2019.

“Home prices in Canada’s luxury real estate market have remained remarkably resilient when you consider
the economic headwinds that serial government interventions have created,” said Phil Soper, president and
CEO of Royal LePage. “The resilience of home values reflects the strong aspirations of luxury buyers to
reside and work in cities that are consistently ranked among the most desirable on the planet.”

Currently, sales in Greater Vancouver have gone “significantly down” according to Royal LePage, but luxury
home prices continue to remain steady.


Continue reading Vancouver luxury home value softens while apartment value continues to rise, says report on Global News website

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