50 - Sriday, Movember 24, 1989 - North Shore News

REAL EISTATE

LOOKING AHEAD

Canadian real estate
market being reshaped

THE RAPIDLY evolving
requirements of today’s con-
sumers and investors wiit
have a deciding impact on
the development and useage
of Canada’s real estate into
the 21st century, beli:ves
George J. Cormack, presi-
dent and chief executive of-
ficer, Royal LePage Limited.

Cormack points out that
new demands by a host of
domestic and _ international
forces are reshaping the Ca-
nadian real estate market-
place. This, in tum, is
challenging the ingenuity
and adaptability of today’s
builders, brokers and con-
sultants.

“The kind of marketplace
we occupy in the year 2000
will largely be the product of
how we respond to
challenges and opportunities
in the decade ahead,” says
Cormack, a featured author
in the 1990 Royal LePage
Market Survey. The survey,
released recently, is a com-
prehensive analysis and
forecast of residential and
commercial real estate mar-
kets in Canada.

Cormack notes that the
changing demographic
makeup of the Canadian
population will have one of
the greatest impacts on the
Canadian real estate market
over the next decade.

“The aging baby boom
generation, coupled with
declining family size, addi-
tional ‘‘empty nesters,’’ and
growing concerns about af-
fordability will have a strong
influence on housing con-
stcuction over the next 10 ta
20 yeays,’’ says Cormack.

To address these concerns,
and cope with the escalating
cost of construction, devel-
opers will turn to building
smaller and more innovative
dwellings. Two dzdroom,
900 to 1,200 sq.ft. homes,
multiple dwellings on a
single lot, aud cube homes,
now gaining acceptance in
some European cities, will)
become more prevalent as
we near the 2ist century.
Additionally, Royal LePage
research indicates that con-
dominiums will become the
preferred accommodation
for a growing number of
older homeowners as well as

for first-time buyers.

Health care facilities, and
alternate accommodation for
an aging population, may
represent the single iargest
growth opportunity in the
land development sector
during the next decade,
reports Cormack. He adds
that Canada’s more liberal
immigration policies also of-
fer developers exciting
growth opportunities.

Cormack forecasts that
the global marketplace of
the 1990s also will be char-
acterized by « growing level
of awareness for the en-
vironmem, a sicference for
durable, high qyztity mate-
rials such as marble and
wood, and a concern for
preserving historic struc-
tures.

He adds that technological
advancements have the abili-
ty of further decentralizing
our economic activities,
thereoy facilitating the cre-
ation of multiple suburban
business and residential
nodes. As well, buildings
within those centres will
become ‘‘smarter.’”

BOYCHUK

986-8305

Amazing West Coast con-
; temporary 4 bedroom home §

OPEN SUN. 1-3

[$374,600 |

“et, it

ae Vd

loaded with

on Sunday irom 1-3

3821 SYMONDS

Enjoy the
plus home with a sauna &
hot tub overlooking a fresh
mountain streans. Unique
vaulted celings and hard-
wood floors, enhance the
warmth of this special
house.

unique §
features. Sunny kitchen & §
family room, sunken living }
room, jacuzzi tub for 2, bar,
dance floor & tons more. §
Come see the excit2ment J

wilderness |
paradise of this 2-bedroom

Get the most for your
real estate commission.

@ { your home is currently on the market
2 Dut is not advertised in the North Shore
News ‘Homes’ section, then there’s good.

re likely to find it:
é best read

“sion you pay your realtor, ask him to advertise
your home in the NEWS.

THE VOICE OF NORTH AND t¥EST VANCOUVER
_— — 7 " -

north shore

SUNDAY - WEDNESDAY + FRIDAY

Valley
Centre

IREAV/ARX West Realty Group |
: WATCH FOR OUR OPENING |

In December at the Lynn Valley Centre
(across from Lynn Valiey Mail)

For further information call:
Pat De Ath, owner-manager 929-6756
Ted Hansen, owner 926-5411
Ed Strasman, nominee 929-8826

“Find Out What We're All About!”

EIT PTT BECUASE DERI, EERSTE era aan