I understand some cities have exuberant property values, for various reasons. Is it that great of a city? I've never been, but what makes Vancouver special to see such high value increases?
Canada's housing bubble hasn't yet popped, and prices are high in many places.
Vancouver itself is attractive to investors because it has a very mild climate, is close to Seattle and the rest of the U.S. West Coast is a short flight, and it's much closer to Asia than the rest of Canada is.
It's also a very beautiful place with lots of amenities for those living there rather than overseas investors or occasional business travelers.
I grew up there and have since moved away but what I loved about it was just how calm, peaceful, and beautiful it was. I think I wouldn't want my kids to grow up anywhere else (if I can jump back in time to Vancouver in the mid 90s).
Vancouver also welcomed multiculturalism which helped a lot.
The city has since moved on (like all cities with time and technology) but I think many people still want that feeling of what it was like in the 90s. It was just a extremely nice place to start a family.
