Seventy per cent of detached homes in Vancouver’s west side were purchased by buyers from China according to new academic study. The study was undertaken by Andy Yan, a Vancouver city planner and researcher, between August 2014 and February 2015. He found that during that 6 month period there was a total of $525 million homes bought in the area with an average price of $3.05 million. Around 82 per cent were bought with a mortgage. Yan’s research discovered that 73 per cent of purchasers were ethnic Chinese; for homes sold above $4 million the figure rose to 94 per cent. Five per cent of all homes were bought by corporations and 36 per cent of those homes valued above $3.05 million were bought by individuals listed as “housewives”.
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