Foreign Investment in Vancouver Real Estate
We recently touched on the issue of Foreign Ownership of Vancouver Real Estate be highlighting a study undertaken by Andy Yan a renowned Senior Urban Planner with Bing Thom Architects here.
A newly released report by Sotheby’s International Realty has revealed that foreign ownership of the luxury single family real estate market in Vancouver is currently sitting at 40%.
Their report entitled ‘Top Teir Trends Report’ surveyed Sotheby’s own real estate agents to find out who was purchasing the luxury homes in Vancouver, Toronto and Montreal. They deduced that most come from China, but recently there has been a surge in buyers from Iran and the United States.
The report also dialed in on those purchaser’s preferences. They defined a luxury home in Vancouver as follows:
- Greater than 3,500 sq ft
- Pricing starting at $2.8m
They also noted that some areas in Vancouver vary in terms of minimum price used in the study, however more information can be seen below in the graphic:
Full report can be read here.
As always, feel free to give me a call to discuss this data and how it impacts you. Adam Chahl +1 778 385 6141.