Quote:
Originally Posted by troutman
Preliminary government data on Vancouver home sales says less than five percent go to foreign nationals
While the study has shortcomings, its findings on the role of foreign nationals in B.C. real estate are in line with a number of previous estimates
http://www.straight.com/news/733211/...ent-go-foreign
The percentage of home sales that went to foreign nationals across all of Metro Vancouver was 5.1 percent. For B.C., it was three percent.
The data looked at 10,148 transactions. Of those, it found that 258, or 2.54 percent, went to Chinese citizens. Of foreign nationals, Americans came in second with 0.23 percent of purchases, and citizens of the United Kingdom came in third, with 0.10 percent.
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There is no way to realistically track who is foreign and who is not. Chinese citizens are limited to taking $50k out of the country per year. Yet some are buying multimillion dollar properties. If they can hide it from the Chinese government, who I'm sure would come down very hard on any one that's caught, they can hide it from us.