, according to realty firm MacDonald.
The firm reports that, in 2014, Chinese buyers made up 70 per cent of its transactions of properties over $3 million.
However, for lower-valued properties there was a sharp drop in that percentage; for homes priced between $1 million and $3 million, Chinese buyers made up 21 per cent; for homes below $1 million, it was 11 per cent.
MacDonald’s Dan Scarrow told the CFA Society that there was no evidence that Chinese buyers had made any real difference to the sub-$1 million sector of the Vancouver housing market
over the past decade but that the high-end market is a different story.
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Chinese buyers make up the vast majority of luxury home transactions in