I recently attended a talk given by Darren Weeks, the Canadian "Rich Dad, Poor Dad". He was personally trained by Robert Kiyosaki , and brings his material to Canadian audiences. Here is what Darren had to say about the Victoria Real Estate Market.
* Timing is everything.
* What drives the value of property up? Jobs, retirement, quality of life, weather, transportation (eg: Comox Airport, Bowen Island's new ferry)
*All of W. Canada will do well because people are being laid off in the East.
*R. E cycles are 7-10 years. '94-'97 were flat
*Rents are going up - people are moving to the area
*On a scale of 1- 4 with 1 being low and 4 being high in the market, he feels Victoria is still not even close to being at 3, and the best time to buy is at about 2.
*When prices go down, rents do not drop the same amount (Good time for investing in real estate for revenue)
*Victoria has the best weather, the Olympics are coming, and taxes are lower than in the East.
All good reasons for investing in the Victoria real estate market!
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