Mar
23
Chinese Buy One-Third of Vancouver Homes: National Bank Estimate
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Toronto purchases estimated at about 14 percent, analyst says
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Government needs better data on offshore buyers: Routledge
Buyers from China comprised about one-third of purchases of Vancouver’s hot housing market in 2015, according to “back of the envelope calculations” by National Bank of Canada.
Chinese investors spent about C$12.7 billion ($9.6 billion) on real estate in the western Canadian city in 2015, or 33 percent of its C$38.5 billion in total sales, according to a note by financial analyst Peter Routledge on Wednesday. In Toronto, they made up 14 percent of purchases, or about C$9 billion of the C$63 billion in deals. Routledge compiled the data by extrapolating from a Financial Times survey of 77 high-end buyers and data from the U.S. National Association of Realtors…
Chinese Buy One-Third of Vancouver Homes: National Bank Estimate
