Key Factors for new High-Rise Residential Real Estate. A Case Study of Vancouver (eBook)

Master's Thesis from the year 2022 in the subject Business economics - Investment and Finance, grade: B, Heriot-Watt University Edinburgh (School of Energy, Geoscience, Infrastructure and Society), language: English, abstract: This dissertation aims to evaluate the potential of high-rise residential real estate to provide affordable housing in urban areas as a response to the growing population. The city of Vancouver was selected as a case study. Beginning with an analysis of Vancouver’s housing market, three important factors that mainly influence success or failure of new high-rise residential real estate were identified and their validity reviewed. The results indicate that in order for high-rise residential real estate to be a part of the solution to overcome housing shortages, it must be supported by a clear set of policies and a framework that assures an adequate supply of affordable units. The needs of the local population need to be considered appropriately (suitability), and a certain level of liveability needs to be retained to avoid overcrowded or underused urban areas.
The populations of urban areas are expected to grow over the coming decades. Consequently, if demand exceeds supply, housing costs are likely to rise, and the portion of disposable income that needs to be spent on housing will rise.