If you are considering buying in the Vancouver area, you may want to join the many buyers choosing Whistler as their real estate destination of choice. While Vancouver property values have been climbing, prices in the Whistler mountains have been making a modest descent. This narrowing of the price gap between housing in the resort and the city has made property in Whistler more appealing than ever.
The Whistler real estate market has long been famous for attracting the most elite investors from around the world. Wealthy buyers from the USA, England, Mexico and Hong Kong have previously dominated the market, eagerly buying land and homes in Whistler for many years. Since the 2010 Winter Olympics, which elevated Whistler to international celebrity status, Whistler has become one of the most preferred real estate locations in Canada. This is especially true among Chinese buyers, particularly those from Mainland China.
So why has there been such an increase in Chinese interest in Whistler?
- It's easier now. Since Canada was granted approved destination status by China in June 2010, Chinese visitors can travel to Canada more easily, which has attracted more offshore Chinese interest.
- Owning at Whistler is a status symbol. Whistler is an internationally-acclaimed destination resort with two majestic mountains for first-class skiing and snowboarding, four championship golf courses, and the finest dining and entertainment opportunities. Owning a part of Whistler provides bragging rights and pride which is highly treasured by the Chinese. Purchasing 'lifestyle property' is a symbol of success and status.
- It's more affordable now. Lowered pricing for Whistler real estate is attracting renewed interest in waterfront properties, as reported by the RE/MAX Recreational Property Report 2012.1 And in comparison to the real estate prices in Vancouver which has ballooned over the last few years, Whistler home pricing is becoming more appealing.
- It's more accessible. Improved highway and faster commute following the 2010 Winter Olympics makes Whistler just a 1.5-hour scenic drive from Vancouver. While in the past, Whistler real estate was mainly purchased as a second home, nowadays it's purchased as the main residence, with families/individuals making a regular commute to and from Vancouver.
Kadenwood is an example of one of the developments at Whistler that has caught the eye of Chinese buyers, with more than 75% of this exclusive master-planned community already sold. Developed by Ecoasis Properties Ltd., Kadenwood epitomizes peak luxury living in Whistler. These magnificent ski-in ski-out estate home-sites are generously sized and have been carefully surveyed and planned for spectacular living space with breathtaking views of the oastal Range mountain peaks and lakes below. Although set apart from the village, anything you desire can be reached by a short drive, a walk, or Kadenwood’s private gondola, which takes residents to Whistler’s finest restaurants, shops, recreation and entertainment venues. Vancouver is also only a 1.5 hour scenic drive away.
Every element of Kadenwood has been carefully considered with meticulous attention to etail. From land purchasing to custom home building, Kadenwood provides a full range of attentive services. Each home-site estate is about half an acre in size with buildable area of 5,000 to 7,500 square feet, and some lots even exceed an acre.
The rising interest in Whistler real estate among the Chinese coincides with a steep increase in the number of Chinese tourists skiing at Whistler. According to statistics from the Canadian Tourism Commission (CTC), there was a 25 per cent growth in Chinese visitors to Whistler in 2011.2 This means that luxury homes such as those at Kadenwood are in high demand for vacation rentals. Kadenwood offers exclusive rental management services to help buyers to maximize their investment, providing homeowners with extra income.
For more information on Kadenwood, please visit: www.kadenwood.com /cn