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Riley Park-Little Mountain
Townhouses for Sale in Riley Park-Little Mountain, Vancouver
Riley Park-Little Mountain is located in the southeastern part of Vancouver, British Columbia, Canada. It is a residential neighbourhood known for its community-oriented living, green spaces, and historical significance, particularly with the early 20th-century residential developments.
Overview & Economic Landscape
- Location: Southeastern part of Vancouver, known for community living and green spaces.
- Boundaries: Bounded by 41st Avenue, 16th Avenue, Cambie Street, and Fraser Street.
- Employment Rate: High, with significant opportunities in healthcare and retail.
- Income Levels: Above national average, indicative of middle to high-income demographics.
Real Estate
- Market Trends: Rising demand with average property prices 20% higher than Vancouver's average. Continued growth with a 5% annual increase in property values.
- Housing Types: Historic homes, new townhouses, and apartment buildings. A shift towards mixed-use developments.
- Investment Opportunities: Historic property renovation, low-rise apartment development, and long-term rental investments.
Demographics & Transportation
- Population Size and Growth: Steady growth at a rate of 3% per year, favored by professionals and families.
- Age Distribution: Significant portion aged 20-44, showcasing a young and dynamic population.
- Cultural Diversity: High, with a vibrant array of cultural events and restaurants.
Infrastructure & Transportation
- Public Transit: Excellent connections including the Canada Line SkyTrain and key bus routes.
- Green Spaces and Community Facilities: Queen Elizabeth Park, Hillcrest Centre, and numerous community gardens.
Local Economy Drivers & Investor Considerations
- Healthcare Sector: Proximity to major hospitals driving employment and residential demand.
- Retail and Services: Commercial streets like Main and Cambie enhance local economy and living standards.
Investor Considerations
- Strengths: Stable housing demand, strong local economy, high quality of life.
- Challenges: Property costs higher by 20% compared to other areas, competitive investment landscape.
- Future Outlook: Population and property values expected to grow at 3-5% annually. Infrastructure improvements and redevelopment projects such as the Cambie Corridor Plan set to enhance investment potential further.
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