62 - Friday, September 6, 1991 -- North Snore News

REAL ESTATE

High land costs deter development

From pare 60

is often inherited. Indians
pool the capital of the ex-
tended family units and
form cooperatives to acquire
a home.

In urban centres, high
density and Jand shortages
make development of the
cooperatively-owned — high-
rise Mats a common housing
form. Recently, housing fi-
nance systems have become
more established which have
increased the opportunities
for home ownership.

Most other developin
Far East countries expert
ence similar rates of home
ownership and housing
quality to India. Japan, by

contrast, bas ownership
rates (67 4%) comparable to
westerr mdustrialized coun-
tries nelecting Japan's high
GNP peor capita.

Urdanization and limited
land supply have resulted in
a very dense population and
eviensive housing. Howev-
e:, housing and finance pol-
icy have produced low and
dable mortgage rates, and
relatively small and modest
housing to compensate for
the high prices.

In the United Kingdom,
housing policy iy primarity
responsible for 61.9%
(1985) owned accommoda-
tion, The rate has increased
dramatically from 43% in

ease are, EMRE?

1025 WILDWOOD LANE, WY,

BRITISH PROPERTIES

196t. Rent controls and se-
curity, of tenure legislation
have restricted the develop-
ment of private rental hous-
ing and sinee 1979,
publicly-owned rental units
have been progressively sold
off to tenants, contributing
to a growing proportion of
homeowners. Financing — is
available for up to 100% of
the purchase price and
variable mortgage rates have
prompted households to
own their own nome ata
much younger age than in
most other countries.

Home ownership rates are
generally higher in’ English-
speaking industrialized
courries.

Huge 0.4 acre home with level driveway. Lovely & sunny south facing manicured lot House features |
A 4 bedrooms & den with a huge living room & a rec room. Kitchen & living room overtook lovely
water views. Beautitully updated with new painis Lower level of house has new floor coverings.
Close to schools, shopping, club, parks & amenities. Easy to show!
HELEN TAN 988-8.389, 680-8899 pgr.
NEW WORLD REALTY LTD. 322-3838

The Sovereign...itS a st

LC) Luxury 2 Bedroom
View Apartments

CL] Only 4 units on
each floor

-ed from

ara)

1555 Eastern Avenue

North Vancouver

Sales Othice Hours:

Daily Noon = 35 pan. (except Fridays)

“This special Financial Package
makes it so easy for you to own
one of these fabulous view
apartments. A beautiful home
and a great investment.

You can’t loose! ?

Jacqueline Ashworth
& Pam Strodl
The Sovereign SalesTeam
Call 988-6201 or
Pager 650-4750