Every place in the world that hosts the Olympics sees a bit of a real estate boom as millions of dollars in development and tourism flows into the region at an extreme rate. The 2010 Olympics are scheduled to take place in Vancouver BC, Canada in a mere few months.
There are some great investment properties in Vancouver for those who are seeking opportunity. I work closely with several Realtors and mortgage people who are located in the heart of the area which is poised to produce the greatest and safest rewards for real estate speculators.
If you are interested in exploring the idea of investing in real estate to profit from the 2010 Olympics, give me a call and I can put you in touch with someone who specializes in property that meets your risk and reward goals.
In the meantime, take a look at this article from todays Province newspaper:
Next year's Olympics won't cause the real-estate market to dramatically rise or fall, but B.C. will see a gradual total increase in house sales of six per cent in 2010, according to one real-estate company.
The recent uptick in the real-estate market -- housing sales have doubled in some B.C. regions -- has less to do with the coming Olympics than with pent-up demand from the downturn, coupled with low interest rates, said realtor John Geha, president of Coldwell Banker.
"We can't put too much emphasis on that [the Olympics causing a surge in real estate]," he said.
He said the Games is a chance to showcase the province to the world as a clean, safe, friendly, uncrowded place close to the mountains and the ocean, with relatively stable prices, but he said it won't help those hoping to flip properties.
"We can use it [the Olympics] as a marketing tool," he said. "It's not a rush to make a quick profit."
He said this year's increase in sales, which have kept prices from falling more than one per cent year-to-date, is due to twenty-something first-timers buying in, as well as 35- to 45-year-olds who held off during the last boom.
And offshore investors are eyeing B.C., said Geha. "There is still a lot of money coming in from the U.S., the Pacific Rim and Europe," he said. "We're opening up a new office that will be mainly Chinese because of the tremendous amount of interest coming from China."
Geha dismissed a suggestion last week from analysts, including senior economist Michael Gregory of BMO Capital Markets, that the market will cool once the pent-up demand is filled, especially without job growth.
Geha, on a cross-country media trip, said the news stories can influence the market."We're not saying everything's rosy, but we are happy with the way the marketing is performing," he said.
slazaruk@theprovince.com
Here are a few of my favorite past articles from my Lethbridge real estate and mortgage blog you might have missed or wish to recommend them to a friend.
Robert May is a Realtor, as well as the broker and owner of Rainbow Realty of Lethbridge Alberta . He is also a licensed Lethbridge mortgage broker and financing expert with Canada First Mortgage of Calgary Alberta. He has been in the Lethbridge real estate industry since 1993 and offers full Lethbridge real estate services to Lethbridge and surrounding area, as well as Lethbridge mortgage financing, mortgage refinancing , preapprovals, and Lethbridge loans financing to Lethbridge and Southern Alberta. He can be found online at this link: mortgage broker Lethbridge
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