Loonie not affecting real estate market

U.S.-dollar purchasers of BC real estate face a double trouble of weakened currency and soaring real estate prices. But experts say that won't deter a lot of investors, who if anything see B.C. assets as an even better bet. The average price of a house in Vancouver and its suburbs reached $819,794 last month, with townhouse condos selling for $600,000 and apartments for $400,000 on average. Meanwhile, the Canadian dollar pushed through the US $1.10 barrier briefly. Many U.S. and offshore buyers who are buying here are buying luxury condominiums and they are not as sensitive to exchange-rate changes because they have a very high net worth. Even for speculative investors, the real estate market here is still considered profitable. U S residents who invested in BC real estate when the Canadian Dollar was at $0.75US are laughing all the way to the bank (or their condo in downtown Vancouver). Not only their property is worth a lot more but they have also gained over 30% in currency exchange if they want to take their money back to USA.