[Kerrisdale old home] Over the years, Kerrisdale single household detached houses enjoyed steady cost obtain as additional home purchasers seek out and buy homes that were for sale in the region. Usually, most detached homes in Kerrisdale, Vancouver have creating lots from six,500 to more than 9,000 sq ft. View properties for sale in Vancouver West.



The smaller lots in Kerrisdale mostly have 33' frontage and 120' to 135' deep. These houses in early 2000 have been selling just about $300,000. Within 10 years, these properties with just about four,000 sq ft lot had been promoting just more than $1,000,000 - three times the cost some 10 years ago.



At this time around August 2015, such houses are selling within the $1.7 to $1.eight million variety. The cost obtain for single family members houses in Kerrisdale might be viewed as extremely exceptional. Home owners are extremely fortune to view such price tag obtain more than just 15 years. Such value obtain is wide spread plus the complete of Vancouver West benefitted with this spectacular rise in residence rates.



The Bring about For Higher Vancouver West House Costs



It can be simply simple economic, supply-demand imbalance. There are actually far more demand considering that 2000 for detached properties in Kerrisdale and Vancouver West in general. With restricted supply, home rates continued to gain in value more than the years. View properties for sale in Vancouver West.



This trend is expected to continue as Vancouver is recognized to become one of the ideal city in the world. With stable political climate and a pretty free of charge and open government, rich immigrants especially these from mainland China, are pouring in millions of dollars into actual estate.



They are not only obtaining properties for their very own to reside in, they are also snatching up pricey properties as assets they can hold on for future generations. This trend is expected to continue as there are many far more rich immigrants wanting to come to Vancouver. With just 11 hours flight time from any big cities in China and Hong Kong, Vancouver is just like the backyard of wealthy individuals from China.



If you're planning to buy or sell your property in Vancouver West, that you are welcome to make contact with James Wong & Associates at 604-721-4817, or email us.