At last, a comprehensive dataset has proven that demand from Chinese buyers has pushed Vancouver detached house prices to astronomic levels.
As reported in the National Post, an academic study examining all sales within three west-side neighborhoods in Vancouver over a six-month period has found that Ethnic Chinese comprised an incredible 73% of all buyers. Even more incredible, the study shows that of all self-declared occupations among owners in the west side – on homes worth an average $3.05 million – 36% were housewives or students with little income. And five of eight homes owned by “students” were bought outright with cash at an average value of $3.2 million.