The MLA Canada Spotlight Series is designed to deliver key market intelligence into the residential real estate market. This report series is to provide insight into up-and-coming marketplace for homebuyers, developers, and real estate industry professionals alike, offering a comprehensive overview of both the quantitative and qualitative characteristics of trending sub-markets in the lower mainland.
This article is one of many in this unique feature series, focusing on the City of Coquitlam. Brought to you by the MLA Canada Advisory Team.
The population of Coquitlam has continued to grow and diversify over the last decade. In 2016, Coquitlam recorded an overall population of 139,284, making it the sixth-largest city in the province. As a multi-cultural, youthful demographic, Coquitlam offers new homebuyers an electric and dynamic place to work and live. Residents in Coquitlam have been reported slightly younger than the provincial median average age, at 41.1 years and 43 years old, respectively.
“You can really feel that in the streets, the parks, and the restaurants. That’s why Coquitlam is such a unique place,” Ryan Lalonde, President of MLA Canada, adds. With a young demographic at play, Coquitlam proves to be a hot marketplace for blossoming homebuyers who are perhaps looking to grow their families and career there.
In terms of ethnic diversity, Coquitlam offers new community members an inclusive space to live, work, and play in. Compared to the provincial average of 40%, the city proves to be incredibly multicultural, with 44% of residents born outside of Canada. The top three countries for residents that emigrate and settle in Coquitlam are China, South Korea, and Iran.
“I think that this creates a really incredible opportunity for those considering Coquitlam from across the globe. We are really noticing this in the pre-sale activity in Coquitlam over the past two quarters,” states Lalonde.
Watch our full Spotlight Episode to learn more about the up-and-coming community of Coquitlam, featuring MLA Canada’s Executives, Ryan Lalonde and Suzana Goncalves.
Click below to access the full report on Coquitlam’s Community and Market Spotlight.
