“In British Columbia, the ideal place for retirement is a matter of affordability. That either means downsizing in the city or relocating outside of the pricey lower mainland. As a result, retirees are opting for the more tranquil life of Vancouver Island, with Nanaimo as one of their top picks.
With a population of about 84,000, Nanaimo has all the amenities of a city without the traffic congestion and high property prices of Vancouver, which is a 90-minute ferry trip away. It’s also slightly less expensive than Victoria, a 90-minute drive away.
Nanaimo is a picturesque seaside city that can offer an active retiree outdoor pursuits and arts and culture, including classes at Vancouver Island University.
Then there are the house prices. The average sale price for a 1,870 sq. ft. three-bedroom single family detached home in Nanaimo is $349,727, according to Landcor Data. By comparison, the average price for a house on Vancouver’s east side is $932,000. And in Nanaimo, it takes only an average of 45 days to sell, which is important for anyone who needs to sell quickly.”
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Reports KERRY GOLD, Globe and Mail
