Who's Buying in Nanaimo?

The third annual real estate buyer profile report (for 2007) from the Vancouver Island Real Estate Board shows that B.C. residents remain the single largest group of buyers of Nanaimo real estate. Although, the Island-wide trend of retirees moving here from Alberta continues with Albertan buyers taking up 13.5% of the market here in Nanaimo in 2007. This information comes from an island wide voluntary buyer survey which received 587 responses from Nanaimo home buyers. The data also concludes that 38% of all residential buyers came from Nanaimo. Those buying in Nanaimo to retire made up 30% of all buyers which is good news for the Island since retirees come here with hefty bank balances and help make the Island economy one of the strongest in Canada. Nanaimo’s affordability, favorable climate, central location and its growing list of amenities produce a community people want to relocate to.

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