| The luxury real estate market in British Columbia | | | | residential trades, forming some 14 per cent in |
| is illustrated by a relatively small market portion in | | | | total trades. It is followed by the upper-end |
| total residential trades. However, it boasts some | | | | market in Kelowna, which makes up 4 per cent |
| of the most expensive properties in Canada, | | | | of total residential. Given that the residential real |
| whose value is derived from the disclosure to | | | | estate markets of Greater Vancouver and |
| some of the most beautiful sincere milestones in | | | | Victoria, with the utmost population density, are |
| Canada, popular recreational localities, and | | | | much than those of Kelowna and White |
| fastidious lifestyles. These properties have | | | | Rock-South Surrey, the cuts of upper-end |
| weathered the monetary downturn well and will | | | | properties in these markets are much smaller, |
| persist attractive because of their positioning in | | | | forming 3 per cent of total trades in Victoria and |
| some of the most beautiful localities in Canada | | | | 2 per cent in Greater Vancouver. Interestingly, |
| and the globe. | | | | the market portion of upper-end properties in |
| Four neighborhoods of British Columbia, to be | | | | Greater Vancouver has increased from 1.5 per |
| precise the ocean-facing Greater Vancouver, | | | | cent portion in the prior year. |
| White Rock-South Surrey, Victoria, and the | | | | Yet, despite the small portion in total residential |
| upcountry-located Kelowna, represent the major | | | | trades, the luxury real estate market boasts |
| locales of indulgence real estate in the province. | | | | properties with the utmost worth tag in the |
| These areas^prev boast some of the priciest | | | | country. The high worth of the indulgence real |
| properties in Canada, with the minimum upper-end | | | | estate in British Columbia is normally |
| worth starting point ranging from $1 million in | | | | accompanying with a fastidious lifestyle or |
| Victoria and Kelowna to $2 million in Greater | | | | recreational appeal. In this sense, British Columbia |
| Vancouver. Luxury properties in White Rock – | | | | boasts many sincere beauties and the vast |
| South Surrey are those valued over $1.2 | | | | oceanfront access to the Pacific. This has made |
| million..Despite the monetary downturn, unit trades | | | | the province favorably attractive to homebuyers |
| of indulgence real estate in British Columbia have | | | | and property investors seeking |
| performed relatively well. In the four noted | | | | lifestyle-accompanying leisure time properties. |
| areas^prev of the province they were down 1.7 | | | | Most needed have been oceanfront or lakefront |
| per cent in 2008 (based on the first seven | | | | properties and apartments with a view and |
| months of the year), from the total of 707 | | | | access to the waterfront. Kelowna, which is |
| properties in 2007 to 695 in 2008. In some | | | | located on the Okanagan Lake, has been |
| neighborhoods, such as Greater Vancouver and | | | | attractive for its recreational and tourism appeal. |
| Victoria, trades were actually up from the year | | | | Those luxury real estate homes mainly located in |
| former, by 5.4 per cent and 4 per cent, | | | | the following areas: Point Grey, UBC, |
| individually. | | | | Shaughnessy, Coal Harbour in Downtown |
| Luxury real estate in British Columbia makes up a | | | | Vancouver, West Vancouver in the Greater |
| relatively small market portion in the overall | | | | Vancouver area. While White Rock-South Surrey |
| housing market. Among the provinces’ hubs | | | | consist of Morgan Creek and Elgin/Chantrell are |
| of luxury real estate, White Rock-South Surrey | | | | the most admired neighbourhoods. |
| has the utmost percentage portion in total | | | | |
