Forma condos.Foreign buyers account for 5%. The preliminary survey data of the BC provincial government on overseas buyers buying houses in the Dawen area were released today.Please Visit: Forma condos to Get Your VVIP Registration Today!
5% of real estate buyers in Dawen are foreigners, and almost all of them are Chinese. The foreign buyers defined by the government are non-Canadian and non-Canadian permanent residents and include international students and foreign workers.
There will be more foreign buyers entering the market in some urban areas, such as Richmond, where foreign buyers account for 14% of all buyers, and Bennabi has a generally high proportion of foreign buyers, at 11%. In the three weeks the government collected data, foreign buyers across British Columbia accounted for 3 per cent of the total, or about 337.
The average foreign buyer invests C $1.157 million per person when buying a house, far more than the average C $735000 invested by Canadian citizens and permanent residents.
Data of Dawen area.
Five key points of the foreign buyer data report:
1. In Dawen area, the proportion of foreign buyers is 5%), of which there are 234 housing transactions by Chinese mainland buyers, 5 by Chinese Taiwan buyers and 5 by Korean buyers.
two。. The proportion of foreign buyers in Vancouver is 4%.
3. The proportion of foreign buyers in Richmond City is 14%.
4. The proportion of foreign buyers in Suri is 3%.
5. The proportion of foreign buyers in Bennabi is 11%.
Bennabi city data.
Foreign buyer data report 4 major findings:
1. There were 10148 housing transactions in British Columbia in three weeks, with a total transaction value of $7.6 billion.
two。. The number of foreign buyers in British Columbia was 337 (3.3%), with a total transaction volume of $390 million.
3. In Dawen area, there were 5118 housing transactions with a total transaction value of $5.4 billion, of which the number of purchases by foreign buyers was 260 (5.1%) and the total transaction volume was $351 million (6.5%).
4. There were 1139 housing transactions in Vancouver, with a total transaction value of $1.6 billion, of which 47 (4.1%) were purchased by foreign buyers, with a total transaction value of $64 million (3.9%).
Mike de Jong, BC finance minister, said the report represented the first time British Columbia had revealed some real data that foreign money was driving up house prices.
“it does exist,” he told reporters. “it’s true, it’s real, it’s true.”
Mei Dezhuang added that the data is very preliminary and contains only 20 days of information. But at present, this is the most accurate data the government has on foreign buyers.
Canada’s Broadwood reported earlier that Mai Dezhuang said it would take six months or even a year for the government to collect data to see a general trend that even if there was a trend, the government would not be willing to levy additional taxes on foreign buyers.
Asked if he was surprised by the results of the data, he said: “in some ways, it is surprising. For example, there are differences between cities, especially in comparing the proportion and total transaction volume of foreign buyers in Vancouver and other cities in Dawen. ”
Starting from June 10, when filling out the property transfer tax return (property transfer tax form), buyers are required to declare whether they are Canadian or Canadian permanent residents, and if neither, their nationality.
David Eby, a housing commentator at NDP, says simply asking buyers to fill in their nationality is a flawed approach, as many people with permanent residency do not pay taxes in British Columbia but go on a buying spree here. He believes that a 2% tax on house valuation should be levied on buyers who do not pay taxes in Canada.