Bruce D Strebinger, a real estate developer in Vancouver, British Columbia
VANCOUVER, BRITISH COLUMBIA, CANADA, May 6, 2022 /EINPresswire.com/ —
The COVID-19 pandemic turned real estate markets upside down. Bruce D Strebinger, a real estate developer in Vancouver, British Columbia, recently explained that his home city experienced a boom while many other cities experienced significant lulls. Strebinger recently discussed why investors are choosing Vancouver.
“Interest rates hit all-time lows during the pandemic, but many people were afraid to take major risks given the state of the economy,” Strebinger said. “Vancouver was fortunate to forego the hardships many other cities faced in terms of real estate. Experienced investors found this an optimal time to invest in the city’s real estate.”
The Land of Opportunity
Vancouver, British Columbia, is a no-brainer investment option for experienced real estate investors. However, this isn’t the first time the city experienced a boom. Historically and geographically, Vancouver is an optimal place to make money in real estate.
Bruce D Strebinger notes that Vancouver has continuously had some of the fastest-rising and highest home prices globally. This means significant profits for luxury real estate investors.
Low, Low-Interest Rates
The 2020 COVID-19 pandemic brought the lowest mortgage rates in recent history, even for luxurious homes like those on the Vancouver real estate market. Mortgage rates in this city hit 100-year lows in 2021.
“Everyone in the real estate industry thought low-interest rates due to the pandemic would spark first-time buyers,” Strebinger said. “However, we see those repeat buyers are causing this massive real estate boom.”
Repeat Buyers Are Behind It All
Strebinger explained that repeat buyers are behind the Vancouver real estate boom. The rapidly rising home prices in the area are one reason repeat investors are coming back for more. It’s also part of what is keeping first-time homebuyers at bay.
Figures show that repeat investors in Vancouver grew from 19 percent, where the number had been for years, in the first half of 2021, to more than 20 percent by the end of the second quarter. In nearby Surrey, 16,194 of the 17,791 real estate transactions in 2021 were by repeat investors.
“This boom is fueled by investors and repeat buyers,” Strebinger said. “We can expect this trend to continue as inventory becomes limited and prices continue to rise.”
Real Estate Developer Bruce Strebinger
Bruce D Strebinger is considered an expert in real estate development, renovation, investment, and project management. He currently specializes in luxury single-family homes and multi-housing units.
Strebinger is one of the many repeat buyers and investors in the Vancouver area contributing to this possibly once-in-a-lifetime real estate boom.
originally published at Global News - Social Gov
The post Real Estate Developer Bruce D Strebinger Discusses Why Investors Are Choosing Vancouver first appeared on Euro-News.
originally published at World - Euro-News