Real estate in the lower mainland has been a top choice for investors seeking secure and consistent returns. Investors have “parked” their money in various classes of real estate, including residential and commercial. Within the residential real estate class, condominiums, attached and detached houses have been popular buys, providing significant upward price movement over the last 3 years.
For the home owner, with prices escalating to a point where the average household income cannot afford the single-family house, the townhome has become the new single-family house option.
For real estate developers too, the townhome is the way to go. The townhome gives a sense of community compared to a condominium and is proven to be the preferred choice. Providing homes which are affordable and with features of a detached house such as private parking and outdoor living space the townhome allows the developer to meet its goals much faster and with less risk.
The market for the attached home continues to thrive and with demand exceeding supply it the most practical of housing option.
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