Moving Blog

Vancouver’s Luxury Real Estate Market

February 09, 2014

We love hearing about a healthy real estate market here at Highland Worldwide.

Moving families have many items that need to be handled with care on their way to a new residence, especially when those furniture pieces and fragile dishes must be transported across the border. We live to serve those who want to call Vancouver their new home.

Recently, the local property market here in British Columbia has given us plenty to look forward to in the coming year.

Homes, especially luxury homes valued at over $2 million, have been selling at a much faster pace over the past year. According to this article published by The Huffington Post, 2013 was the best year for Vancouver luxury real estate sales ever.

Since January 2013, more than 1,600 luxury properties were sold within Vancouver. Luxury single-family homes as well as condos were the best performing sectors of Vancouver’s real estate market over the previous twelve months, each improving in sales by 38 percent and 19 percent respectively over the prior year’s results.

This may be spurring a trend towards more luxury development built upon the old bones of demolished properties.

Traditional “blue-chip” neighborhoods have begun to sprawl outward as old homes are removed and the vacant lots are being repurposed into luxury properties ranging from $5 million up to $10 million in value.

This isn’t the first good news about Vancouver’s luxury market. A few weeks ago, a Sotheby’s International Realty Canada report of luxury trends cited by the above article showed that, for the $4 million property value level, luxury real estate sales increased by 50 percent for at least a few years in a row.

Vancouver truly is a bustling metropolis on the rise. When you need to make sure that your prized belongings make their way safely through the streets, give Highland Worldwide a call.

We can handle your move, no matter how far you need to travel.