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Archived Articles
Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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Canada: Housing market in Vancouver and British ColumbiaVancouver - third by its size Canadian town but still holding the historic record of most expensive city in the country in terms of house prices is expected to offer no big surprises in the coming months on the real estate market. The flat prices that dominated the market in the last 2 years would continue to reflect the dynamic equilibrium between the higher than the national average demand and the lowest in Canada index of affordability*. The prices on the real estate market will remain among the highest in the country, matching those in Toronto. When we begin talking about Vancouver the first reaction is "Oh, the Chinese city". In fact the largest city on the Canadian Pacific coast doesn't attract as many Chinese from China as people of Chinese origin from Taiwan, Hong-Kong and other Asian countries. What's the difference, you'll ask? The difference is that the Chinese from China are predominantly poor or lower-middle class people moving to America looking for better life. By contrast the Chinese from Taiwan, Hong-Kong etc. are predominantly middle and upper-middle class looking for better realization, more open society etc. If you want to meet poorer Chinese immigrants then go to Montreal. If you're looking for relocating businessmen then go to Vancouver. That explains at least partly why the prices in the city are so high**. Today an average detached bungalow in the city costs $262,000***, which is almost 10 percent below the record price levels of 1997 but is still much more expensive than the similar house in Montreal ($136,000). At the same time the housing affordability in Vancouver in 2001 was nationally lowest with 44.7% from the household income going to cover the ownership costs****. Just to mention here, in 1990 the index of affordability was almost 65%. Looking at the statistics we discover a curious thing. The prices in Vancouver and Toronto in the last decade were going in the opposite directions. For Vancouver the first half of 90s was a period of upward market development with the house prices going from $200,000 to almost $300,000 in 6 years. At the same time the market in Toronto has declined from $265,000 to $200,000. After 1996-1997 the trends in both cities were reversed. Thereafter Vancouver experienced price decline and Toronto began to regain the losses accumulated previously. If Vancouver remains one of the two most expensive cities in Canada in terms of house prices, the province of British Columbia tops the list of most expensive provinces in Canada. With almost $1,500 home ownership costs per month it leaves far behind the provinces of Ontario and Alberta.
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See also the directory of companies providing real estate services in, and general real estate information of Canada.
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