Housing affordability and foreign buyers are some of the hottest real estate topics right now. Today, the BC government released the first set of data that show foreign nationals make up 5.1% of home buyers in Greater Vancouver.
This confirms the data collected from realtors by the Real Estate Board of Greater Vancouver through its monthly member survey. Click here to read more “Is there a typical home buyer in Metro Vancouver?”
The provincial government will continue to release foreign buyer data each month. The data are collected when owners register their properties at the Land Title Office and when Property Transfer Tax is paid.
Click here to see the current set of data from transactions occurred between June 10 and June 29, 2016.
Additional findings include:
- 10,148 residential real estate transactions in BC, totaling more than $7.6 billion.
- 337 transactions (3.3%) involved foreign nationals, worth $390 million (5.1%).
- In Metro Vancouver, there were 5,118 transactions worth nearly $5.4 billion, of which 260 involved foreign nationals (5.1%), worth $351 million (6.5%)
• In the City of Vancouver, there were 1,139 transactions, totaling more than $1.6 billion. 47 of these involved foreign nationals (4.1%), worth $64 million (3.9%).
Click here to read about neighborhoods with the most expensive homes in Vancouver West