There once was a time where the world did not believe much of Canada. It was the backwater of North America, a straightforward piece 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 development of Canada as an important economic actor on the world stage. Canada has emerged from the crash of 2008 and following downturn unscathed: the state experienced no subprime mortgage crisis, nor do we have a sovereign debt crisis such as the European Union. Canada has already departed the post-recession recovery phase and entered a period of growth. Canadian banks are in sound condition, and are being controlled by sound monetary policy by the Minister of Finance and Governor of the Bank of Canada.
If you’re planning to invest in real estate in British Columbia, Canada, one of the challenges will be to choose a strategy that will bring the greatest yields. In the present market, you can no longer count on fast 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. However, a growing number of landlords are recognizing that they can get higher yields in short-term furnished rentals market, especially by converting their investment property into a corporate housing unit. Corporate housing units are rented to businesses which send their workers for short-term projects or relocate them on temporary basis. Since the business accounts for the rental payment and also the unit, property owner can be sure the unit will probably be in good shape and always paid for.
In the city of Vancouver there is an enormous demand for corporate housing because of the essence of the economy. Vancouver is home to numerous big corporations in various sectors which frequently bring in employees from other portions of the state or across the world on a temporary basis. Examples of this can be found in the movie, technology, software, and shipping industries. Find out more regarding Eddie Yan through this web page. Film companies will often gather a cast and crew for a creation that continues a couple of months; technology firms including Telus will bring in staff to Vancouver for training lessons that last a number of months; applications companies like EA Games will import gift from their other offices for the production cycle of a video game. Regardless of which particular business it’s in Vancouver, there is going to be a continuous demand for furnished property leases.
If you’re considering 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 cash to tastefully furnish the property, its possible to make an impressive return on investment that will perform continuously.