airbnb property for sale Victoria City Center
The City of Gardens is surprisingly known for more than just the lushing green spaces and parks. Known for plenty of historical buildings and architecture, some of the favorite tourist attractions in Victoria are the Royal BC Museum, Beacon Hill, and Craigdarroch Castle.
Before deciding to purchase a property in Victoria, whether it’s a townhouse or a luxury home for sale that you’re looking for, it’s certainly important to consider the major costs and revenue. While rental arbitrage in Victoria is fairly popular and does not require you to purchase a property, it’s still recommended to learn about buying a property for Airbnb in the future and making sure that it’s profitable.
At the same time, it’s also essential to consider the Airbnb rules in Victoria in order to operate an STR business without worrying about breaching the laws.
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“Although interest rates have increased in Victoria, this market can be a great opportunity for home buyers. Buyers can purchase a home with less competition compared to 6 months to a year ago.”
– By Ria Mavrikos on Victoria Real Estate Market
Aside from looking at a property’s fascinating architectural design, proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability. In this article, we’ll discuss the metrics in order to gauge the best property investment.
This includes the best website recommendations for property investment in Victoria, property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Stoked to learn more? Continue reading!
Is Property Investment Profitable in Victoria City Center?
Operating a listing in Victoria is certainly profitable! In fact, we can find this city among the most profitable rental markets in Canada.
Using an Airbnb income calculator, it was discovered that a 2-bedroom property in Victoria City Centre can generate an annual revenue of C$82,565 with a steady occupancy rate of 87% and a nightly rate of C$229.
airbnb property for sale Victoria City Center
Homes for Sale in Victoria, British Columbia
Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.
At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the profitable properties in Victoria City Centre along with the calculated gross rental yield, cash-on-cash return, and annual revenue:
1376 Lynburne Pl #121A, Langford, BC V9B 6S1
1. Studio-type Property for Sale in Victoria
- Near Fairfield Road
- Asking Price: C$79,000
GROSS RENTAL YIELD | 33.55% |
ANNUAL REVENUE | C$26,506 |
CASH ON CASH RETURN | 74.89% |
810 Humboldt St #A514, Victoria, BC V8V 5B1
2. 1-Bedroom Property for Sale in Victoria
- Near Fairfield Road
- Asking Price: C$75,000
GROSS RENTAL YIELD | 34.79% |
ANNUAL REVENUE | C$26,091 |
CASH ON CASH RETURN | 78.60% |
848 Hockley Ave #42, Langford, BC V9B 2V6
3. 2-Bedroom Property for Sale in Victoria
- Near the park that is located in the heart of Langford
- Asking Price: C$179,900
GROSS RENTAL YIELD | 18.86% |
ANNUAL REVENUE | C$33,763 |
CASH ON CASH RETURN | 30.82% |
1498 Admirals Rd #41, New Songhees 1a, BC V9A 2R1
4. 3-Bedroom Property for Sale in Victoria
- Near to Portage Park and the Gorge Waterway
- Asking Price: C$199,900
GROSS RENTAL YIELD | 41.30% |
ANNUAL REVENUE | C$49,353 |
CASH ON CASH RETURN | 98.13% |
22241 Nisqually Rd SPACE 66, Apple Valley, CA 92308
5. 4-Bedroom Property for Sale in Victoria
- 1.7 miles Sandia Elementary School
- Asking Price: C$190,000
GROSS RENTAL YIELD | 24.76% |
ANNUAL REVENUE | C$47,036 |
CASH ON CASH RETURN | 48.50% |
Conclusion
Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for Victoria such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.
Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!
As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.