The study was undertaken by Andy Yan, a Vancouver city planner and researcher, between August 2014 and February 2015.
He found that during that six-month period there was a total of $525 million homes bought in the area with an average price of $3.05 million. Around 82 per cent were bought with a mortgage.
Yan’s research discovered that 73 per cent of purchasers were ethnic Chinese; for homes sold above $4 million, the figure rose to 94 per cent.
Five per cent of all homes were bought by corporations and 36 per cent of those homes valued above $3.05 million were bought by individuals listed as “housewives.”
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Enmore, Leamington, St. Hilaire, Mill Creek, Hull
Seventy per cent of detached homes in Vancouver’s west side were purchased by buyers from China, according to new academic study.