Foreigners are also eager to get into the Vancouver, BC real estate market, as well as in other cities. In 2012, it was estimated that some foreign investors owned anywhere from 5 to 50 percent of all downtown condos in Vancouver and Toronto, further limiting the available inventory. While sellers had a field day, buyers faced a more congested market.
While some fear the direction the market is headed, Porter says it’s too early to jump to conclusions. Fortunately, buyers and sellers can count on a company like Vancouver Canada Homes for sage advice and help in closing the best property deals fast.