The biggest group of foreign home buyers in Vancouver consists of the Chinese who purchase a second home or properties for investment purposes. This fact came from the latest 2013 report from the Sotheby’s International Realty Canada which also included a survey.
Approximately 15 percent of the entire population in Vancouver speak Chinese as a first dialect.
On the other hand, foreign investors as a driving force for Vancouver’s rising home prices are only a third factor. According to Helmut Patrick, chief economist at Central 1 Credit Union, the predominant ones that see them soaring are a population explosion coupled with shortages in land.
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