Question:
My husband and I live in Victoria, and own a home in Port Alberni,
which we are currently renting out. We will retire to this home in just
over a year. Port Alberni just released a new 5-year plan and a plan for
redevelopment. Is this a good time to look for a second/investment property
in the Port?
Answer: Monday, May 10, 2010
If you are in a financial position to buy real estate, for
investment or as a home, the next two years could be great buying
opportunities in the smaller centres of Vancouver Island, especially the
resource reliant communities like Alberni and Campbell River. Prices will
stay stable or drop as a result of competitive inventory, fewer buyers and
higher interest rates. Port Alberni has just won its court battle to
recover municipal taxes from the mill owner and is a recreational centre and
jumping off point for the west coast. It may become a coal exporting port
to the Far East for a proposed mine on the east coast of the island and
there is continued development of a new road link. The Alberni Valley would
be my choice for future investment on the island.
>> Read more Q and A's with this expert.
Marty Douglas is the sales manager and nominee for Coast Realty Group (Comox Valley) Ltd., one of nine offices serving Vancouver Island.
More about Marty Douglas.
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