Real Estate

Greater Victoria is one of Canada's most desirable cities and offers a wide array of housing options, including single-family homes in established and new neighborhoods and condominiums and townhomes right downtown and in suburban areas, as well as semi-rural settings and estate properties. No matter which area you choose, you always have minimal commuting time to workplaces and convenient access to facilities, shops, schools, and recreation.

Greater Victoria is home to some of the most expensive real estate in Canada, which affects the average house price for the entire region. As a result, the median price for single-family homes in 2010 was roughly $560,000. On a monthly basis, median rents in Greater Victoria rank only seventh highest in Canada and median monthly payments for owner-occupied dwellings rank 13th. In both cases, monthly payments are substantially less than those in Metro Vancouver.

A significant advantage for homeowners here is that the real estate values are quite stable. The trend over the past decade in Greater Victoria has been for steady growth with double-digit increases in value every year. Owning a home in Greater Victoria is a smart investment, especially over the long term.

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