Whistler Real Estate is unlike anywhere else in the world, with internationally recognized skiing, snowboarding, hiking and mountain biking, among notable other world-class accommodation and attractions all under an hour and a half from Vancouver, BC. Whether looking for a safe investment property, a weekend chalet or a place to call home, Whistler attracts people from all over the globe to purchase real estate in this unique mountain valley. Here are some factors to consider when looking at Real Estate Whistler.
The 2010 Vancouver Olympics
The 2010 Olympics put Vancouver on the map, and Whistler had a large part in hosting many of the events, athletes and spectators. In preparation for the event the BC government spent nearly 1 billion dollars on infrastructure and improvements including serious improvements to highway 99 which connects Whistler and Vancouver. These improvements increased the safety and capacity of the highway while also decreasing the drive time between the two destinations.
The Canadian Dollar
After years of parity with the US dollar, the Looney started sliding downhill in 2013 settling at approximately ¢75 CAD to $1 USD. As Whistler is very accessible from the American border and the nearly 4 million people that live in the Seattle area Whistler Real Estate became much more affordable and an attractive investment for Americans.
Whistler Blackcomb is Purchased by Vail
In 2016 Whistler Blackcomb officially became part of Vail and the Epic Pass program, where purchasing a single pass grants you unlimited skiing at a large number of resorts throughout the USA. Whistler becoming part of this pass has opened up the floodgates for American Epic Pass holders looking to experience one of the worlds best ski and snowboard resorts. Travelling to Canada with such a favourable exchange rate was already an attractive option to many Americans, throw in free skiing and snowboarding as well and see demand for accommodation blow up increasing the value for rental properties.
Vancouver Real Estate
Vancouver has been one of the fastest growing real estate markets in the world over the past several years, with many homeowners selling their homes for a profit and taking their money out up the Sea to Sky corridor where there is more natural space and purchasing power. Whistler has seen an influx of residents from the city looking for a change of pace and to enjoy all the amenities that Whistler has to offer.
Although these factors have all had influences on the market, truly understanding what this means for prospective buyers and sellers takes a Whistler Real Estate Professional. If you’re looking to better understand the Whistler Real Estate Market and Buy or Sell a home, make sure you talk to Whistler Real Estate Lawyer Tom Docking first.