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Top 25 Real Estate Agents in Vancouver West,Downtown Vancouver and West Vancouver. Buy & Sell residential homes, property management, pre-sale and more.

Super-rich in Mainland China Heading for the Departure Gate

Posted by on Nov 3, 2011 in Blog

Beijing (CNN) – The “Private Banking White Paper 2011” talked to individuals with assets of more than 10 million yuan (US$1.57 million) in18 cities to find out how China’s super rich manage their wealth. The average asset holdings of the 980 surveyed are 60 million yuan (US$9.44 million), with the average age of 42. Where do China’s millionaires want to move? North America is the top choice. The United States is the most popular immigration destination for Chinese millionaires, attracting 40% of the respondents who are interested in leaving China, followed closely by Canada (37%) followed by Singapore and Europe. About a third invest abroad as a step toward emigration, while a quarter of them do so to diversify and manage risk.Observers believe that personal and capital safety is an increasing concern for the rich who are choosing to...

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Foreign Property Buyers Restrictions Needed?

Posted by on Apr 21, 2011 in Blog

According to CBC news: A prominent Vancouver businessman and former city councillor says it’s time to debate restricting foreign ownership of residential properties as a way to cool down Vancouver’s hot real estate market. Peter Ladner says Vancouver’s home prices are out of control, and with China and Australia already restricting foreign ownership, Vancouverites should at least examine whether the idea makes sense. “Ironically, many of the people driving up the prices are coming here from mainland China where soaring real estate prices have caused the Chinese government to introduce new limits on foreign purchases of residential or commercial property in the country,” he wrote in a recent article published in Business in Vancouver. Ladner says he isn’t isn’t taking a position on the issue, but he wants a debate. He notes there has been virtually no public research...

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First-time Home Buyers Drive Up Vancouver Market

Posted by on Apr 19, 2011 in Blog

According to the Province and Postmedia News April 6, 2011: First-time homebuyers scrambling to dodge higher interest rates down the road are driving up the real-estate market in such areas as Vancouver, a report issued Tuesday says. “With an average price hike of close to 20 per cent year to date [February], Greater Vancouver continues to show unprecedented strength,” real-estate services firm Re/Max said. “[The]average price now hovers at a record $780,000.” Sales in the region have jumped 12 per cent from the same period last year, the report said. Despite the erosion in affordability, first-time and move-up buyers are leading the housing charge, especially in areas such as Richmond and Vancouver westside, the firm said. “Many entry-level purchasers are compromising on their housing choices, scaling back on expectations, sacrificing quality or size to realize home ownership,” Re/Max said....

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Greater Vancouver Real Estate Will Get Both Sales and Price Increase In 2011 CMHC Predicted

Posted by on Nov 30, 2010 in Blog

(From VancouverSun) A new report suggests that low mortgage rates combined with a growing population and an improving economy bode well for Metro Vancouver home sales for the rest of 2010 and 2011. “For the next year, we’re looking at favourable mortgage rates, a steady flow of migrants to the Lower Mainland, and a growing job market,” Canada Mortgage and Housing Corp. senior market analyst Robyn Adamache said in an interview about the federal agency’s housing market report that concluded sales will remain stable until mid-2011 before trending higher. “We’re looking at about 33,000 sales for Greater Vancouver [in 2011]. We’re looking at 31,000 this year. The 10-year average is about 34,000. The B.C. Real Estate Association also predicted in its fall housing forecast last week that B.C. housing sales, while declining 12 per cent this year to 74,950...

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UBC Market Housing Plans To Accomodate 51,000 In 20 Years

Posted by on Oct 19, 2010 in Blog

According to the local Vancouver news: University of B.C. plan to build more market housing and turn the campus into a town of 51,000 people over the next two decades, which will increase the non-student population on campus to up to 35,000 by 2021 from 6,410 today. Metro chief administrative officer Johnny Carline said while the regional district supports UBC’s general plan for a “balanced university town,” he’s worried they want to build more high-end market housing for the public at the expense of student accommodation. This could pose serious problems for Pacific Spirit Park, the city of Vancouver and the regional district as a whole, especially if people are commuting from UBC to other areas to work or there isn’t enough green space left on campus, the report said. “A significant increase in market housing, which will undoubtedly...

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