Real estate is considered the best long term investment on the planet. To confirm this, one need only look at the history of Vancouver Lower Mainland and Sea to Sky corridor property sales. During the past decade, in the Lower Mainland, many properties have easily doubled and tripled. In 1993 the average price of a Whistler lot was $154,500. By 2001, the average price for the same lot was $950,000. This trend is also reflected in chalet and condo prices. Pat Kelley, president of Whistler Real Estate says it’s about lifestyle. People live in the Sea to Sky corridor and holiday there because they came, saw and fell in love with the area. They also like the idea that the beautiful city of Vancouver is just a few hours down the road, where beaches, parks, restaurants and other city amenities can be found.

Vancouver West Side

Worldwide publicity around the 2010 Olympics has definitely increased Vancouver’s international profile. You can feel a buzz. The morning of the announcement, horns were honking all over Vancouver. Coffee shop conversations were centered around increased business, tourism and real estate. There was a prevailing sense of optimism. By and large, the general comment was that most citizens would benefit from the Olympics. Marked by the changing of political parties, the past two years in BC have been vibrant with real estate activity. The Real Estate Board of Greater Vancouver reports that residential real estate sales in 2003 are significantly higher than previous years and interest rates are the lowest they have been in over fifty years.

Vancouver real estate prices have continued to rise with an average increase over 10 percent since May 2001. Multiple Listing Service data from May 2002 indicates the benchmark price of an apartment in Greater Vancouver is $194,220, up 9.5 percent from one year ago and the benchmark price for a single detached house is $418,060, up 9.6 percent from May 2001. Attached units are up 10.8 percent with an average price of $268,830. Real estate sales are an economic pillar in BC, generating $1.6 billion in the year 2002.

Allan Nielsen, a leading west side realtor with Remax says long awaited summer holidays have been out of the question for many realtors including himself. Consistent sales activity has required a high level of service. It’s basically a "trade-up, interest driven" market where many potential buyers are first selling and then using their original down payment plus accumulated equity to purchase more expensive properties. Because of low interest rates it is possible to move up significantly without mortgage payments increasing. In cases where a property has a suite, some buyers have managed to reduce mortgage payments while securing five to seven year terms. Many feel that rather than tying up money in stocks and mutual funds, it is safer to invest in property given the current real estate climate.

Squamish

Price isn’t everything. Most people purchase property relative to life style with the understanding that property appreciates over time. Squamish Valley is a tremendous natural resource half way between Vancouver and Whistler. When approaching Squamish, one can’t help but be awed by the towering Stawamus Chief, a rock-climbers dream. In 1961, climbers Jim Baldwin and Ed Cooper put Squamish on the map as national media covered their historic assent. Since then The Chief has become internationally recognized among rock climbers. On the other side of Squamish, the mouth of the Squamish River provides some of the Pacific North-west’s best windsurfing. Cold alpine streams pour into the river which in turn flows into a much warmer Howe Sound. This thermal dynamic produces winds that surfers dream about. Needless to say many Canadian and US sailors and record holders train at the mouth of the Squamish River.

In 1792 when Captain George Vancouver sailed into the area, the Sko-mish Coast Salish people had been there for 10,000 years developing a vibrant culture which is extant today. In the late 1800s settlers arrived and began producing cash crops until the economy fell, giving rise to the forest industry. Today Squamish is becoming a recreational area with a developing waterfront, artisan village, revitalized downtown core, ferry terminal and emerging film industry. By 2005, Sea to Sky University will be completed and ready to receive students says former UBC president Dr. David Strangway. Squamish, a city of 15,000 is experiencing a real estate boom around residential housing and land suitable for subdivision and development. With the 2010 Olympics in sight there is great optimism that Squamish will continue to grow and achieve its potential.

Whistler

One hour up the road from Squamish puts you in Whistler, a destination resort that needs little or no introduction especially with heightened international attention around the 2010 Winter Olympics. Despite 2010 fever, Whistler is consider one of the globe’s most complete four season resorts, with skiing, hiking, golfing, swimming, fishing, biking, boating and a host of world class restaurants and hotels. Whistler’s emphasis on sustainability in the valley has ensured responsible growth, resulting in a cap on development. According to Whistler Real Estate president Pat Kelley, once that has been reached under present guidelines, real estate activity in Whistler will mainly involve existing properties. However, this will be terrific for the Sea to Sky corridor particularly Squamish and Pemberton where excellent value can still be found.

It is important to remember the Olympics are a one time event with long reaching ramifications. We don’t know what the outcome will be, but we do know the 2010 Olympic playground is our backyard now and for posterity. Fourty-one percent of property in Whistler is owned by Vancouverites who purchased because of the area’s outstanding natural and developed resources.

Pemberton

Just 20 minutes north-east of Whistler, you will find some of the most pristine rivers, streams, exquisite farmland and densely forested acreage where cattle, horses, deer, elk, bear, wolf, trout and salmon live. Pemberton is ideally situated to become the gateway to the back country. A drive along the Hurley River Road, north of Pemberton reveals thick forests, mountain ranges, plunging valleys, panoramic views, Meager Creek Hot Springs and the Pemberton Icefield. Past that, you come to Carpenter Lake, Bralorne and Goldbridge which, at one time, were bustling mining communities. Travelling east of Pemberton on Highway 99 will take you past Lillooet Lake, through Mount Currie, Duffey Lake Provincial Park, numerous camp sites and eventually up the Duffey Lake Road to Lillooet. On the way there are lots of places to stop and enjoy the natural features. If you are looking for acreage, on-your-doorstep access to the back country and world class skiing, Pemberton is where you want to be.

You Can Have It All!

Whether you live in Vancouver, Squamish, Pemberton or anywhere along the Sea to Sky corridor you can have it all. Each location possesses unique features that appeal to personal taste. However, if by chance a complete change of pace is in order, a relatively short drive can put you anywhere from civilization to untouched wilderness and anywhere in between. Imagine any recreational activity and we’ve got it in abundance for hobbyists and professional and amateur athletes. By 2010 the whole world will know why Vancouver and the Sea to Sky corridor are the best places in the world to live, work and play.