Vancouver faces construction boom

The west end of Vancouver is poised for levels of development not seen in the area for forty years, according to Colliers International.

Land prices are high but so is the demand for new development and with recent improvements in cutting the red tape for new construction projects, the city, and the west end in particular, is set to see some exciting new communities.

Commercial real estate is also seeing growth with new proposals including a large resort development incorporating two hotels, casino, conference centre and retail units.

The issue for the residential property of course, is affordability. Currently, availability of new property doesn’t necessarily mean lower prices.

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