Richmond Real Estate Market

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Richmond is an island city. It is made up of a number islands in the Fraser River delta. It is just one meter above sea level. It was prone to flooding, especially during high tide. Therefore, major islands are now surrounded by a system of dykes, which serve to protect the town. Also, since it occupies land in a river delta, the city has plenty of rich soil for agriculture. Richmond is a culturally unique community. As of 2021, the city has an estimated population of 209,937 people with 60 percent being immigrants, the highest proportion of immigrants in Canada. Majority of immigrants are Chinese. Richmond has been experiencing growth and change, transforming from a rural, local community to an international city with a balance of urban, suburban family and rural areas. The city is 20 minutes from downtown Vancouver and 25 minutes from US border. It’s the location of Vancouver’s international airport.  The SkyTrain, Canada Line, speeds up transit system and connects Richmond to other
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Duplexes in Burnaby, BC

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Traditional Duplex
Traditional Duplex

A duplex house is two living units attached to each other. Two units are attached side by side in most situation. The shared wall is a common property. The modern style duplex makes the shared wall much smaller than it used to be which is an advantage for owners. It gives owners more flexibility regarding renovations and makes the unit more private. 

Modern Duplex
Modern Duplex
The real estate market in Great Vancouver reached an all-time high in 2021. Detached houses become very expensive. A ½ duplex can be a good alternative choice. It’s more affordable. You may be able to get a ½ duplex under $1 million. If you can afford over $1.7 million, you have more choices to get a very nice size and newer ½ duplex, especially in Sperling-Duthie or Upper Deer Lake areas.  

The tables below are  the lists of sold duplexes with price under 1 million and over 1.7 million in 2021. 

Duplexes Sold under 1M in 2021
Duplexes Sold under 1M in Burnaby in 2021

Duplexes Sold over 1.7M in 2021
Duplexes Sold over 1.7M in Burnaby in 2021

What is your opinion? Would you choose to buy a nicer and newer ½ duplex or do you prefer an older detached house that needs a lot of renovation?  

If you would like to have more information about Burnaby market, please click here or contact me at awang@macrealty.com




  




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