It’s not just foreign investors taking advantage of Vancouver’s real estate market.
A new survey out Thursday shows more people are turning to rental properties as a retirement tactic.
Twenty-one per cent of respondents to the BlueShore Financial survey say they already own an investment property, while another 54 per cent who do not currently own an investment rental property, but are interested, say they’re looking to purchase one in the next one to five years.
About half of the respondents say they’re turning to real estate for future retirement, while 44 per cent say it’s to take advantage of rising real estate values.
As investors move away from traditional options like stocks and bonds, BlueShore Financial says key factors to consider include factoring all costs and unforeseen expenses, carrying a loss, and making sure investors identify the right type of property.