This new pricing system implements Competitive Game Theory and information asymmetry to optimize sale prices based on demand. Could it be the new trend for developers?
Since the beginning of the COVID-19 pandemic, house prices in Victoria have been steadily rising. Take a look back to June 2020, when the MLS benchmark price for a house in the Victoria Core was $896,700. Fast forward to June 2021 however, and we can see the MLS benchmark price rise to $1,063,500, an 18.6% increase! As you can see, despite COVID-19’s effect on the economy here in Victoria, real estate has remained an excellent investment.How does this relate to condos? Well, the MLS benchmark price for a condo in Victoria in June 2020 was $490,400 and as of June 2021, the benchmark price has risen slightly to $531,100. This increase is much smaller than the housing one, coming in at only 8.3% over the year.
You’ve probably heard the term real estate investing, but do you know what it means or - more importantly - how to even do it? The best part of real estate investing is that there’s many ways to get involved. From hands-on to more passive methods, take a look at some of the ways that you can invest in real estate today.
Ready to invest in real estate, but don’t know how to get started? Don’t worry, that’s a common problem faced by all new investors. We’ve compiled a list of some of our tried-and-true tips to help you start investing in one of the most profitable markets.
