Richmond Real Estate
You'll find beautiful Richmond real estate situated in the Canadian province of British Columbia. Located on Lulu Island at the entrance of the Fraser River, the town has an estimated population of 222,945 people, making it the fourth largest city in BC. With 60% of the community identifying as foreigners, it's the highest proportion of immigrants in all of Canada! Bordering towns are Vancouver and Burnaby to the north, New Westminster to the east, and Delta to the south.
In recent years, the area has been transforming from it's rural, local roots into an international melting pot. The area has many urban, suburban, and pastoral regions close to downtown Vancouver and the U.S. border. To meet with the new expansion, the city is continuing to develop their downtown core and waterfront areas, and have recently finished building its Canada Line rapid transit system.
Richmond has a flourishing economy that supports over 126,000 jobs in multiple sectors including services, retail, tourism, technology industries, light manufacturing, airport services and aviation, agriculture, fishing and government. In recent years, Richmond has been rising as a preeminent hub for high tech industries. Those of Chinese or South Asian heritage represent more than 60% of Richmond residents. Immigrants have played a significant role in the rise of small business and retail within the city.
Richmond City Guide
There are a few ways to commute to Vancouver's downtown core from Richmond; most commuters opt to hop onto the newly built Canada Line rapid transit system that leaves every 10 minutes, taking about 23m to reach the Vancouver core. If you'd rather take the bus, jump on the TransLink that goes every 15 minutes or so and drops off commuters right downtown Vancouver (42 min ride). If you carpool, the drive takes just 21 minutes. Richmond also has two international seaports, as well as the Vancouver International Airport located on Sea Island.
Central neighborhoods in Richmond BC Include:
- Minoru Park
- Steveston Seafair
- Crestwood Industrial Park
- Golden Village Sea Island
- Iona Island
- Finn Slough
Richmond is somewhat walkable, with a score of 55, some errands can be done by foot. Richmond has Good Transit and has many options, scoring at 52.
In comparison to downtown Vancouver, Richmond real estate is more affordable. The average price of a home in the area costs $877K, whereas in Vancouver the average cost is $1.3M.
Richmond Real Estate Market
|Type of Property||Number of Properties|
|Occupied Private Dwellings||73,460|
|An Apartment Building that has Five or more Storeys||10,400|
|Attached Dwelling (Other)||38,680|
|Apartment or Flat in a Duplex||4,685|
|Apartment in a Building that has fewer than Five Storeys||17,730|
|Single-Attached House (Other)||20|
|Dwelling||Average Price ($CAD)|
|House (Average Home)||$877,000|
The average amount of time a home sits on the market is 31 days.
What To Do In Richmond, BC
According to a recent report by Statistics Canada, those living in Richmond, BC have the longest life expectancy in all of Canada. Maybe it's due in part from its1950 acres of parkland, 73km of trails and 60km of on-road cycling trails. A comprehensive system of 145 parks provides sports and recreation amenities in every neighbourhood in addition to a wide variety of recreational facilities, such as pools, community centres, tennis courts, playgrounds, picnic areas, golf courses, lacrosse areas, running tracks and playing fields for children. Besides the picturesque green spaces, Richmond BC is bustling with nightlife, art, cultural centres and golf courses.
You'll find a million reasons to purchase Richmond real estate, the area is booming with excitement and growth, and its proximity to neighbouring cities like Vancouver and the United States is undoubtedly a sound investment!