Long-awaited data showing the scale and impact of foreign buyers on the Vancouver housing market could be made available as early as next week according to finance minister Mike de Jong.
In an interview on CKNW radio, he talked about the proportion of foreign owners in the province, Vancouver in particular: “I’ve heard numbers as low as five per cent, and numbers as high as 30 per cent. Happily, we are collecting specific data that I intend to release very soon and we’ll get beyond the speculation and people will be able to deal in fact.”
The BC government began its study last month as part of a range of measures designed to tackle the sharp-rising prices and low supply in Vancouver.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: