Economic Growth Bodes Well for Vancouver Real Estate Market

Two months ago, the world watched as Vancouver took centre stage as the host city of the 2010 Olympic Winter Games.  Although the crowds have abated and many venues have been deconstructed, Vancouver remains an exciting place to visit – and to live. 

Vancouver Real Estate Market and Economy

The most recent report from the Conference Board of Canada projects a 4% growth for Vancouver’s economy this year.  Aided by the $600 million brought in by the Olympics, this projection makes Vancouver the leading city in Canada in regards to economic growth.   So what does this mean for the Vancouver real estate market?   According to the Real Estate Board of Greater Vancouver, residential property sales showed a 38.5% increase from March 2009 to March 2010.  These numbers, combined with a steadily growing Housing Price Index and increase in listings, demonstrate Vancouver’s healthy real estate market: buyers and sellers alike have plenty of options.

Coal Harbour Condos

Perhaps the downtown neighbourhood densest with new developments is Coal Harbour.  This picturesque location boasts the marina and seawall to the North, Stanley Park to the West, the downtown core to the South, and historic Gastown to the East.  Coal Harbour’s proximity to Vancouver’s financial district coupled with the abundance of nearby restaurants, outdoor activities, and shops makes this area ideal for (though not limited to) young professionals.

Completed a year and a half ago, The Ritz encompasses everything Coal Harbour stands for – elegance, excitement, and panoramic views.  Conveniently located at 1211 Melville Street, these grand condominiums are two blocks from the seawall and another two from Georgia St.  The Pinnacle International building features 24 hour concierge service and security card access to all common areas, which include a stunning lobby, a private health club complete with indoor pool, whirlpool, sauna, steam room and gym, a multi-media room and a party room.

The suites, which range from 703 sq. ft. to 1390 sq. ft, boast granite counter tops in the kitchens and bathrooms, gas cook tops, and ceilings over 9 ft. high.  Balconies ensure the majestic views of the city and the North Shore Mountains can be enjoyed to their full potential, making The Ritz one of Vancouver’s premier condominium complexes.

In February, the world saw Vancouver for the incredible city it is, and over the years it will only become more appealing.  Fantastic properties such as The Ritz showcase all the downtown area has to offer, and embody the standard of living for which the West Coast is famous.

Coal Harbour Apartments

The Ritz Condominiums in Vancouver's Coal Harbour

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