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Foreign Owned Properties in Metro Vancouver

January 28, 2018 by Editor

4.8% of the Lower Mainland’s residential properties are foreign owned. *

Source: the Canadian Housing Statistics Program supported by StatsCan and the Canada Mortgage and Housing Corporation. Download a PDF of this report.

Foreign owned means:

  • A foreign owner is someone whose principal residence is outside Canada.
  • A foreign owner doesn’t have to be a Canadian citizen.

Foreign Purchases

Foreign buyers tend to buy at the high end of the market. The 4.8% of owned properties represents 5.1% of the total value of Lower Mainland properties.

The numbers vary by municipality and property type. Across the region 7.9% of condos were foreign-owned; but only 3.2% of single family homes.

The percentage of foreign ownership tends to skew higher for more expensive properties.  As a result:

  • Vancouver City has 7.6% of all properties owned by non-residents
  • West Vancouver 6.2%, but 
  • Maple Ridge only 2.1% and
  • Surrey only 2.9%.

Contact me if you would like the full breakdown by municipality, property type, size and age.

*Note that this study does not capture properties purchased for a spouse or student, or owned by corporations with offshore shareholders; future reports will address this.

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Filed Under: Real Estate Perspective

The News – and the Reality: Trends Affecting Real Estate

November 21, 2018

One of the most popular activities in the daily news cycle seems to be forecasting the future of real estate. And it’s not uncommon to see wildly opposing views on where the market is headed, and when it might get there. This month’s post explores the news — and the reality.

Read More

The Changing Market – What Does That Really Mean?

October 22, 2018

After several years where home sellers had a market advantage, now buyers have more selection, more time to make good decisions, and their dollar buys more house than it used to.

Read More

Great Opportunities for Trading Up or Down…If You Qualify

October 9, 2018

Talk to a mortgage broker if you plan to move. There is still a strong demand for housing especially in retirement and recreational properties.

Read More

Monthly Articles

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Shannon Realty

Suite 207 5740 Cambie St.,
Vancouver, BC. V5Z 3A6
1-604-649-6058

Email: jeff@shannonrealty.ca

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