As Vancouver housing prices continue to rise it may not be all to do with foreign investment.
Home buyers statistics released in 2014 showed that Mainland Chinese were buying approximately 70% of the homes valued over $3-million. It also showed that Chinese investment is actually quite low when it comes to the lower 75% of the market, the affordable housing.
Chinese buyers only represent approximately 11% of sales under $1-million.
It appears that the increasing housing prices are dictated more by the lower interest rates and low supply of housing. In the lower mainland there are only a few municipalities still capable of new single family housing development such as Maple Ridge, Langley and Surrey.
