I just sold this House at 1530 65TH Ave W, Vancouver West, British Columbia S.W. Marine.
International buyers increased their appetite for Canadian condos over the past year, new federal data show, although the country’s housing regulator acknowledged it still lacks a clear picture of foreign investment in the housing market.
While the overall share of foreign buyers in the Canadian condominium market is still small, new figures from Canada Mortgage and Housing Corporation show the share of units owned by international purchasers rose in six major cities. They jumped substantially in Toronto, Vancouver and even Winnipeg over the past year.
In the Toronto metropolitan area, CMHC found 3.3 per cent of condos are owned by people whose primary residence is outside of Canada, up from 2.4 per cent last year. In the Vancouver metropolitan area, the share of foreigner-owned condos rose to 3.5 per cent from 2.3 per cent in 2014.
CMHC called the increases in Toronto and Vancouver “statistically significant,” although it offered little explanation for the jump over the...
VANCOUVER – Home sales in the Vancouver area posted their second-highest ever November sales as they climbed 40.1 per cent compared with a year ago.
The Real Estate Board of Greater Vancouver says home sales on the Multiple Listing Service in Metro Vancouver totalled 3,524 last month.
That was up from 2,516 a year ago and down slightly from 3,646 in October.
“The ratio of sales to home’s available for sale reached 44 per cent in November, which is the highest it’s been in our market in nine years.”
New listings for detached, attached and apartment properties in Metro Vancouver amounted to 3,392 in November compared with 3,016 in the same month last year.
The strength in the Vancouver market has continued even as the housing market in many areas of the country has cooled with the economy.
The sales for November...
In November, the ParkHouse project, a 65-unit residential condo complex in the city’s downtown, sold out in less than 90 minutes.
“We knew that there was a great desire for this type of housing here in Squamish, so we knew there was interest, but we never expected to sell out that quickly,” said developer Michael Henson.
Henson said he’s not the only developer looking north of Metro Vancouver either, adding that the Sea-to-Sky Highway upgrades and the opening of Quest University have turned Squamish into a more attractive prospect for buyers.
The commute into Vancouver, though more winding and zigzagging than most, is also comparable to those faced by residents in the Tri-Cities.
“You can expect anything from 45 minutes as the commute time to downtown Vancouver,” Henson said.