An article in today's NY Times discusses the condo boom in Downtown Vancouver, British Columbia. As my wife spent most of her childhood in Vancouver, I have travelled to the city many times over the last few years.
Similar to New York City, the cityscape changes almost daily as new architectural projects are springing up as far as the eye can see. Downtown Vancouver is a very unique place as it has a city, ocean and mountain environment all coming together in one place.
According the NY Times article, Downtown Vancouver is the most expensive housing market in Canada, according to a survey of 21 cities worldwide released last April by Century 21. The average sales price for a condo in Vancouver was around $419,750 in 2007, up 14.6 percent from last year, according to Royal Le Page Real Estate Services. The average sales price in Toronto, Canada’s largest city, was about $241,818, up 15.7 percent from last year, and in Montreal, $201,818, up 4.6 percent. The most expensive condo on the market in downtown Vancouver right now is a 7,000-square-foot waterfront penthouse listed for $18.2 million.
The fuel for the condo boom is said to be foreign investors, second-home buyers and housing for the upcoming Olympics. In an effort to market to these populations, 3D Walkthroughs, 3D Floor Plans and 3D Renderings are extremely valuable and effective tools. If a foreign investor can get a good idea of all a property has to offer from a remote location, they can reduce the number of properties they need to visit when they visit Vancouver.
The next time my wife and I make the trip to Vancouver it looks like we will be mixing business with pleasure...a bittersweet phenomenon for 3Dwalkthroughs.com.
The full NY TIMES artice can be found HERE>>>
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