Right now, the province of British Columbia in Canada is very hot property due to the fact that Olympics are now over and things are starting to settle down with the Olympic Village going up for sale. Vancouver served as the home of the 2010 Winter Olympics and as such saw a great deal of international visitors coming in and enjoying the global games. The complex that housed the athletes during the Olympics has now been converted into more than eleven hundred luxury condos of which 450 have already been sold. Some experts are saying that part of the reason Canada was able to avoid the tremendous economic woes of the past 2 years may be due to the housing boom surrounding the Vancouver 2010 Olympics and that following this there could be something of a housing bubble happening in the city. It remains unclear as to whether this is fact or mere speculation and, analysts say that only time will tell the whole story. Now, the standard for a mortgage loan on Canadian soil is being tightened by 5 years from 40 year loans being the norm to today’s loans which average around 35 years in length.
With a whole village being built for the games, it is now a place of public tourism with more than 100 coming to see what is now named Millennium Water, a tourist destination with site seeing offered. Designed as a city of the future with all sorts of green tech, the village may be a tough sell with its property going for around $1,078 (Canadian) per square foot – even more than the cost of property in Manhattan, New York.
