West Vancouver or Richmond luxury homes

West Vancouver is considered one of the most expensive cities to live in. the rise in home prices has led to a rise in everything else around the area. Developers and real estate firms located here have literally hit the jack pot. The real estate prices have been on the rise for the last five years. This has been driven by the demand for high end stand alone properties that are finished luxuriously. Vancouver has become a haven of top tier properties with house sales averaging up to 2 million dollars. The neighborhood has become very cosmopolitan and diverse in that many foreigners have bought homes here. Soaring cost of living has led residents to sell their property and relocate to cheaper neighbor hoods.

 West Vancouver is fast becoming a little Hong Kong as many of the investors and home owners come from this nation. They have contributed to the boom in the real estate values try.com - why vancouver property is too high as demand for these properties keeps going up. This began in the late 90’s when wealthy Hong Kong residents settled here to enjoy the stability that was lacking in their nation. Chinese immigrants have also pushed up housing prices in Richmond. There is a slight difference in the nature of the migration of the Chinese. Many moved to Richmond under the federal government immigrant program me. It was a trade off with the government granting residency in exchange for an interest free loan to the government. Many millionaires took this deal to be able to live comfortably without the overcrowding in their nation.

 Richmond may not be as expensive to live in, but the similarities are numerous. It has a 50% population of Chinese settlers. They have also driven home prices up with an average property retailing at about 1 million dollars. Richmond and West Vancouver have become prime real estate havens. As the demand for high end detached homes in these areas continue to grow, the property rates rise even higher because they cannot satisfy this demand. More affordable homes are available outside the suburb areas of this cities.