Growth is forecast to continue to rise at record rates.

REPORT HIGHLIGHTS NEED FOR STEEP INCREASE IN HOUSING

A recent report from Colliers International entitled “Victoria CMA & Western Communities Population & Housing Growth 2020 to 2041” highlighted the need for a steep increase in affordable housing and the incredible opportunity for real estate investing on Southern Vancouver Island which accompanies that demand.

The 2016 Census revealed a pattern of astonishing growth in Southern Island areas known as the “Westshore Communities” -including Langford, Metchosin, Colwood and Sooke – which has exponentially exceeded growth in the City of Victoria, in great part as homeowners seek more affordable Vancouver Island housing. And that growth is forecast to continue to rise at record rates as Colliers predicts that an additional 19,225 residential homes will be in demand in the Westshore Communities by 2030, with that figure jumping to 38,400 by 2041.

According to Statistics British Columbia, average household size in the Westshore Communities will be between 2.12 and 2.5 people, meaning that the need for condos, townhomes, starter homes and seniors housing will be at the forefront of demand, positioning the Langford Gateway project perfectly for this influx of buyers. And the demand will be strong as anticipated inventory in the Westshore Communities falls well below the mark – of those predicted 38,400 new dwellings required by 2041, currently planned new construction will only provide forecasted housing for a mere 1,200 individuals.

Evest Funds was early to identify the real estate investment opportunity in Langford, an area where buildable land is in short supply and demand for housing is already high and created the Langford Gateway project. With an excellent location with easy proximity to downtown Victoria, Langford Gateway will provide exactly the type of residential space for which the market is clamoring: senior and multi-family housing, followed by proposed condos and townhomes and commercial spaces to capture a “built-in” customer base and provide lifestyle convenience for residents.

For investors, the appeal is obvious with Evest Funds innovative “Investor First Program”, where an initial limited partnership investment of just $25,000 gets investors into this red-hot market Southern Vancouver Island real estate market with a targeted 18% annualized return. It’s clear that there has never been a better time to move on the Westshore Communities real estate market and Evest Funds real estate investment strategy can help you reach your economic goals safely, quickly and securely, while building much needed community together.

Click here to learn more about Langford Gateway.

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