In the past few years, Vancouver has consistently been named one of the best cities in the world. This is largely due to Vancouver’s thriving economy, which has elevated the standard of living for many residents.
But Vancouver is also known for another thing: food. Vancouver is slowly becoming one of the world’s top food destinations, due to its convenient location right next to the Pacific Ocean. This has opened up Vancouver to exceptionally fresh seafood, while also making the city accessible to migrants from around the world.
As the number of restaurateurs looking for space to open up new restaurants and cafes continues to rise, investing in commercial real estate properties in Vancouver becomes an opportunity that promises to generate steady revenue and speedy ROIs.
Vancouver is enjoying this food-driven boom for a variety of reasons. Here are a few of them.
A Melting Pot of Cultures
Situated in the western coast of Canada, Vancouver has long been the port of entry for immigrants from around the world. When people migrate to Canada, they bring with them their unique culture and exotic food. Over time, more immigrants arrived, bringing with them more food traditions and creating a vibrant food scene in the city.
But it’s not just small scale, mom-and-pop restaurants opening up in the city; many 5-star restaurants and chefs from all over the world are choosing Vancouver as their home, further fueling the foodie revolution in the city. With the “open kitchen” set-up a rising trend in the restaurant industry, many chefs choose to occupy large amounts of commercial space to house their up-and-coming restaurants.
Seafood for Days
Because Vancouver sits right beside the Pacific Ocean, the freshness of its seafood is legendary. Often the centerpieces of many restaurants, fresh and locally sourced seafood is almost universally accessible to Vancouverites. The city regularly holds festivals that celebrate the rich bounties of the sea, with the popular Spot Prawn Festival drawing in thousands of visitors to the city every spring.
Aside from restaurants, fresh seafood dishes are served in open-air markets and food parks. The popularity of food parks and communes makes these a great investment opportunity which promises low overhead and respectable ROIs.
The rise of the “artisanal” trend – which focuses on small, independent companies that create handmade products – and the city’s healthy relationship with business owners have given birth to Vancouver’s microbrewery scene.
The microbreweries of Vancouver have given residents and tourists a huge variety of craft beers and liquors that can’t be found anywhere else in the world. The popularity of microbreweries is also a boon to real estate investors. Microbreweries require large amounts of space, and the products they create enjoy steady demand, which can provide property owners a healthy income stream.
Vancouver is a great place to invest in. With more and more shops opening every year, owning the real estate to house these businesses can deliver significant profits, and help grow the foodie scene in the city. As one of the leading providers of quality real estate brokerage services, Vancouver Business Brokers has the necessary expertise and experience to provide investors and entrepreneurs the real estate guidance that they’re searching for.
Contact us today and we’ll help you achieve your real estate investment goals.