TechCompanies’ Growing Presence In Vancouver A Positive For Local Real EstatePrices

In recent years, many tech companies opened up new offices in Vancouver and created high paying employment opportunities in the area. With a lower Canadian dollar, deep talent pool, and more favourable immigration policies, Vancouver has caught the eye of many technology giants. For example, Microsoft established a multi-floor office with an employee base of 750 people in metropolitan Vancouver in 2016.In addition, many tech companies both large and small has made an entry into Vancouver or announced a commitment to do so: Asana, Postmates, Slalom LLC, DataCloud International Inc., and Tigera Inc. On September 12th, Grammarly, the American technology company whose primary offering includes a writing app, announced its intent to open a global office in Vancouver, the fourth of its kind. Amazon has also been operating out of a Vancouver-based headquarters in the Canada Post building for several years, creating over 2,000 jobs in Vancouver, with over 5,000 with more to come.

Vancouver Real Estate - Tech Companies

Vancouver continues to be rated one of the greatest cities in the world in which to live, work, and play. An area renowned for its excellent standard of living, Vancouver is not just a city of commerce; it is also a beautiful residential community with all of the amenities of luxurious living. This metropolitan mecca enjoys a prosperous economy when other large cities in Canada are struggling to resist a recession. Families are drawn to the region for its excellent employment opportunities with wages among the highest in the country. With favorable economic conditions on the job front, a housing market that is primed to promote both buying and selling, and access to forward thinking technology companies, it is not difficult to see why the brightest minds in information technology choose Vancouver as their home base. As a side benefit, there is a vast resource of technology talent to be found within the downtown core; something that is extremely attractive to technology companies seeking innovative thinkers to recruit for their team. With many technology businesses already instituting concrete plans for a change of base operations to Vancouver, many more are sure to follow suit.

West Vancouver Real Estate - Higher Value

This presence of technology companies will have positive effects on the real estate market, bringing a wealth of interest in potential home buyers seeking to purchase a luxury property. With an abundance of young, affluent professionals on the hunt for appropriate housing, quality homes on the market are primed to sell for an increase prices. The market that has been experiencing a lull in recent years is now poised to recover as the demand begins to increase.The higher end real estate market would be well positioned to benefit. This includes properties in Vancouver downtown, West Vancouver, North Vancouver, and Vancouver Westside.Young professionals tend to be interested in living in Vancouver Downtown where the action takes place. Senior and executive level staff are likely to prefer luxury homes in West Vancouver, Vancouver West End and North Vancouver areas. For those seeking to invest their resources into luxury housing in Vancouver, it is best to begin a search for a home now as real estate prices will soon be on the rise to accommodate the coming increase in demand.

West Vancouver Realtor - Amir Miri

With demand for luxury Vancouver housing soon to be on the rise, future property buyers need someone they can trust to help them source their ideal home in Vancouver. Amir Miri, Vancouver’s leading realtor in the luxury market, has many years of experience helping clients buy and sell high end properties. If you’re looking for your West VancouverNorth VancouverVancouver Westside, or Vancouver Downtown dream home, Amir can help. For more information about purchasing or selling a luxury home in Vancouver, contact Amir at 604-657-5030 or amir@amirmiri.com.