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China Growth Sets Vancouver Home Prices
Good Afternoon all,

 

As a front line practitioner working in Vancouver's global real estate market -  I can't help but be intrigued by China's influence on our industry. This is the first of 4 emails which will take a closer look at the role international buyers play in our market.

 

Vancouver's housing market may depend on the strength of China's economy as much as anything that happens in Canada. The think tank behind Vancouver's Housing Conference Board says, "Vancouver housing markets cannot fully escape the Chinese dragon."

It says China's influence on the local housing market rivals domestic factors such as mortgage rates, employment, and population growth.

 

Economist Robin Wiebe with the group says China has "strongly affected housing markets around the Pacific Rim," including Vancouver's.

 

The Chinese GDP growth was more closely related to price changes in the Vancouver housing market than were any other key factors. The graph below clearly outlines the relationship between China's gross domestic product(GDP) growth and home prices in metropolitan Vancouver, Canada's most expensive city. Stats Canada data show 15%+ of the population has the first language that's a Chinese dialect. Read more...

 

 

 

 

  

Best Regards,

  

Adil Dinani

Personal Real Estate Corp.

 

Diamond Award(Top 3% RLP nationally)

Medallion Club Award Winner(Top 2% GVRD)

  

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