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According to the annual report of the British Columbia property valuation Bureau (BC Assessment), residential prices in Richmond, which is the most populated by Chinese, rose by more than 17%, the largest increase in housing prices in Dawen City, which is related to the opening of the Canadian line, and double-digit increases in West Vancouver, Windsor and Bennabi, all at more than 12%.
The BC property valuation Bureau publishes a report on house price changes in various parts of the province every year. As the standard for evaluating property tax in the new year, according to the latest data, housing prices in all cities have the highest increase, reaching 17.14%, followed by West Wen, up 13.03%, Wenzhou City and Benabi City up 12.17% and 12.07% respectively. Housing prices in other Dawen cities increased by about 7% to 9%, with the exception of Baishi Town, which rose by 6.02%.
According to industry insiders, the reason for the rise in house prices in the cities is mainly due to the opening of the Canadian line, which makes the transportation of the place more convenient, adjacent to the airport and Vancouver, as well as direct access to the downtown Wen Wen Mall, such as one of the overhead train stops. Originally, the price of apartments nearby was generally lower than that of the Richmond Center Shopping Mall, but after the opening of the Canadian Line, house prices rose rapidly and became a hot spot. The continued influx of Asian buyers into the city is also an important reason, especially since immigrants from China generally prefer Richmond as their preferred settlement.
In addition, commercial housing prices in Vancouver rose by 11.57%, twice as much as in many other warm cities, followed by Baishi Town and Gao Lingang, up 7.62% and 6.51% respectively.
From the perspective of the whole of British Columbia, the halo of the “Winter Olympics effect” in Visna is fading, with residential and commercial prices falling by 2.06% and 5.036%, respectively.
The city with the biggest increase was Mackenzie, near the inland Prince of George (Prince George), with prices rising 21 per cent.
BC property valuation Bureau evaluates house prices according to the size, age, location, quality and availability of swimming pools or car sheds.