Offshore investors represent a small fraction of recent homebuyers

Results from a year-long period of realtors' polls conducted by REBGV shows foreign buyers do not dominate the residential market

By
Western Investor
June 5, 2017





Overcrowded homes

 

Foreign and offshore investors only represent a small percentage of homebuyers, according to a new realtors’ poll.

The Real Estate Board of Greater Vancouver (REBGV) conducts monthly surveys with realtors who have recently represented buyers in a sale. The board has realized cumulative statistics from April 2016 to April 2017, demonstrating illuminating insight into the demographics of recent homebuyers.

REBGV stats show that the majority of realtors during the year-long period represented first-time homebuyers from within the Greater Vancouver area.  The majority of homebuyers are families or young couples with no children. Thirty-eight percent of buyers purchased within their current community or neighbourhood, while 36 per cent moved from another city or sub-community with the REBGV area.

Only 2.3 per cent of homebuyers were described as foreign buyers. Local or domestic investors accounted for 18.5 per cent of sales. Fourteen percent of buyers reported that they are investors that will not be living at the residence.

 

rebgv infograph

rebgv inforgraph

View full breakdown of the market poll.


Tanya is a recent graduate of Langara College's journalism program and spent a summer freelancing for The Burnaby NOW and The Record, following a reporting internship with the publications. She joins Western Investor as an editorial assistant. Very much a millennial, she sees the irony in writing about real estate she will likely never be able to afford.
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