Vancouver is one of the most popular cities in North America for property investment right now. People from across the continent, as well as immigrants from other regions, see the potential in starting a brand-new life in this vibrant city. Some will come purely for economic prospects as they start a new career or promotion. Others will come for a change of pace and the chance to explore a new area. Either way, most people who come here agree that it is one of the most livable cities in the world. But what does livability actually mean? What makes Vancouver so livable, and why are people flocking here?
The Economist Intelligence Unit Global Livability Index ranks cities across the world for their livability. 173 major cities are assessed, and they release their rankings each year. In 2023, Vancouver came 5th in the world. While it was beaten by Vienna, Copenhagen, Melbourne, and Sydney, it was the most livable city in North America. Calgary tied with Geneva in 7th place, and Toronto came 8th. This is impressive and shows that Canada as a whole must be doing a lot right to appeal to residents and those looking to immigrate. Vancouver, in particular, must be special. Before we look at why, let’s talk about what livability means.
What Does Livability Mean?
Livability is an interesting term that isn’t the same as quality of life. Quality of life is a pretty subjective term that comes down to a person’s personal experience. One person living in Vancouver may have a greatly different quality of life to others in their area because of significant personal influence. This can include their physical and mental health, sense of fulfillment from their work, and their social and family lives. Quality of life tends to equate to happiness and contentment, whereas livability is more about the objective qualities of a neighbourhood or city.
These are factors that apply to anyone living there or looking to invest in property there. In addition to general influences in the property market, such as property values and types of accommodation available, there are also environmental and community-focused factors. Can newcomers find a place to fit in where they can enjoy important aspects of their culture? Can they get the work-life balance they need? Is the area green enough? Does it have the right balance of services and infrastructure alongside these green spaces? According to real estate statistics about Vancouver, this city ticks many of those boxes. So, why are so many people coming to Vancouver?
5 Reasons Why Vancouver Is Such A Liveable City
1. A great work-life balance downtown
It sounds simplistic, but livability gives people the opportunity to achieve an effective work-life balance where they can live a full life with ease. Finding a wonderful property in a nice neighbourhood is fun until you have to commute for miles for work, entertainment, or other essential needs. Ideally, you want a district where everything is within easy reach, and everything is more laid-back. The downtown area of Vancouver is perfect for this because it is so easy to find desirable homes close to work, as well as local stores and places to spend disposable income on the weekend.
2. One of the most multicultural cities in the world
This is a massive consideration when talking about the livability of a city, and one that helps contribute to the point above. Everyone has their own idea of what it takes to create a work-life balance, but everyone needs one. That’s the case, no matter your ethnicity, religion, gender, sexuality, or any other factor that makes you who you are. Vancouver is a hub of multiculturalism, which means plenty of places around the city to engage with other people just like you. That could mean places of worship or community halls for specific groups, entertainment facilities that are a little more niche, or just warm, open spaces that welcome newcomers with open arms. Just 46% are European Canadian, and there is a large LGBTQIA+ community.
3. Great infrastructure and services to keep the city running
This is more of a practical factor to consider when choosing a new city by its livability. How accessible is everything? How reliable and plentiful are the services you need? Again, there is a level of subjectivity in the specific services people want. But, there has to be easy access for all that want it. With the infrastructure, this means easy navigation and great public transportation links. Downtown Vancouver has plenty of Metro links out to surrounding areas. With the public services, we’re talking about schools, libraries, medical facilities, and other necessities.
4. Wonderful green spaces and access to nature
A big part of a liveable city is the chance to access green spaces or get out of the city and back to nature. People want the big city lifestyle when it has all the infrastructure, services, and employment opportunities mentioned before. But, people can’t survive alone in that situation. They can’t spend all their time in the office or at home with nowhere else to escape to. Vancouver is perfect because it doesn’t take long to reach some stunning scenery. The city is surrounded by water and just a short journey away from stunning mountains. On top of that, there are all the wonderful parks and gardens close to those businesses and homes for a quick break. The metro is 68% green, making it the second greenest in the country. It also helps that the weather on the west coast is pretty good. You don’t get the same cold winters and snowstorms as you might out east, and there’s a good blend of the sun and rain to enhance those green spaces.
5. Great property investment for all demographics
Finally, there is the fact that Vancouver remains a popular place for people to find a home and invest in new property. Stats show a high demand for property in the area, and that desire comes from a wide demographic. There are people with a range range of budgets. Although, as stats from HouseSigma show, the highest number earn between 80-120K a year. There is also high interest among retirees and women, which shows how desirable and welcoming the city is.
The Most Livable City In Canada
It is easy to see why so many people want to come to Vancouver. The real estate statistics show why it beats Calgary and Toronto in the list of the most livable cities. Livability is a complex series of factors—from the practical side of living and working somewhere to the features that help enrich the soul. Vancouver’s landscape, infrastructure, design, and diverse communities all blend together to create something special.
