Approximately 15 per cent of the entire population in Vancouver speaks Chinese as a first dialect.
On the other hand, foreign investors as a driving force for Vancouver’s rising home prices are only a third factor. According to Helmut Patrick, chief economist at Central 1 Credit Union, the predominant factors that see house prices soaring are a population explosion coupled with shortages in land.
Sotheby’s International Realty Canada reported that the biggest group of foreign home buyers in Vancouver consists of the Chinese who purchase a second home or properties for investment purposes. This is from the realty giant’s latest 2013 report, which also included a survey.