Comments on: Even Foreign Real Estate Buyers Are Dumping Vancouver For The Suburbs

By: AG

AG — Tue, 09 Mar 2021 20:21:31 +0000

In reply to Darren Close. I believe your comment might the uninformed one here. I've personally seen the transactions that show non-resident investment in cheaper homes in rural BC, around the $500k price point. A lot of these are places locals wouldn't look at without thinking of tearing them down.

By: Darren Close

Darren Close — Tue, 09 Mar 2021 19:34:07 +0000

Your comment about small town, small shacks , is a bit of an uninformed opinion. Im very familiar with several markets, big and small, and a born and raised city boy now living in a small town. Small towns have high end high quality living, although compared to Vancouver prices, your small shack bughet there is will get a dream home in so many small beautiful BC towns, accessible and affordable.

By: Carolyn Alexander

Carolyn Alexander — Tue, 09 Mar 2021 00:15:33 +0000

In reply to Takashi. Technically you’re not a foreign buyer if you’re a permanent resident. Might be people buying before moving here, but a resident doesn’t pay it. If you bought as a non-resident and became a resident that year, I believe you qualify for a refund as well.

By: Wesley

Wesley — Tue, 09 Mar 2021 00:12:33 +0000

Can confirm, the buying surge is just people with new budgets from lower real estate prices, motivated by the fear of foreign buyers that aren’t here any more.

By: Takashi

Takashi — Tue, 09 Mar 2021 00:10:45 +0000

That March spike related to Hong Kong security bill? I remember hearing about flight from Hong along, but it doesn’t look like all that big of a deal.