Search
  • Marketing @ Bijan Law

BC Real Estate News - Modular Home Demand Skyrockets Among Millenials

According to Joe Walters, CEO of Penticton based modular home builders Radec Group, “We are seeing an increase in the 25- to 45-year-old buyer because they didn’t grow up with the modular homes that we have today,”


The shift in demand towards these affordable new homes could be driven by maturing millennials and lack of affordability in the Vancouver market.


Radec Group's staff has more than doubled since expanding into the modular home market.


Another factor fuelling this opportunity for contractors and real estate agents is the increased value of these type of developments. According to the Canadian Home Builders Association Modular Construction Council 2016 Economics Report, "the value of factory-built building production in Canada was slightly over $1.6 billion in 2016, up about 3.5 per cent from 2015 and above the five-year average."


According to Walters, “Most cities in the Lower Mainland are looking to increase density,” He added that “factory-built homes allow [contractors] to help that goal while not putting additional stress on infrastructure or neighbourhoods. [Developers and the city are] trying to minimize disruption to communities.”


“Looking forward, we’re looking at densification, including modular laneway housing. That, and multi-storey developments, are the evolving trends today,”


“We are seeing broad growth in demand in the Lower Mainland as well as across the province of British Columbia in general,” said Rod Graham, president and CEO of Horizon North. “The market sees that you can get a higher quality product faster and they want to be a part of the innovation of modular construction.”


If you're interested in legal representation from a credible Downtown law firm, take a look at our website or give us a call at 604-674-7755.


Bijan Law is a general practice law firm in Downtown Vancouver. We can help you out whether you're entering a partnership for investment, starting or purchasing/selling a business, want to keep wealth within your family, immigrate to Canada, or resolve a dispute.


Note: these blog posts are written by a communications professional and are not intended to be legal advice. One of our lawyers would be glad to help if you have a specific issue in mind.

2 views

Tel: 604-674-7755

Fax: 604-564-5775

Complimentary parking is available at Pacific Centre. Please take a parking ticket as you enter the garage and park in any space not marked “Reserved.” Our receptionist will issue you a parking voucher at the front desk.

Bijan Law Corporation

Suite 1801 - 701 West Georgia Street

PO Box 10107 LCD Pacific Centre

Vancouver, BC

Canada V7Y 1C6