An interesting story was published in Western Investor Titled Immigrants favour urban home ownership in Metro Vancouver, poll shows. Click here for the full story.
The story notes:
Immigrants living in the Vancouver region predominantly choose to live in the city while favouring safety, affordability and access to public transportation, according to preliminary findings of a Metro Vancouver regional government study.
“Immigrants prefer the city and live there. When they don’t live there, they want to be in city,” said Sinisa Vukicevic, a regional planner and housing analyst for Metro Vancouver.
The survey findings reinforce and support my view that Metro Vancouver real estate is a good long-term investment, notwithstanding normal periodic cyclical lulls. The story revealed that most immigrants want to be near public transit and better job opportunities. And those features are obviously found in the core areas of Metro Vancouver.
With so many people continuing to move into Metro Vancouver and immigration still strong for the foreseeable future, residential real estate has a strong tailwind behind it, in and around Vancouver.