{"id":1965,"date":"2016-05-15T10:10:13","date_gmt":"2016-05-15T17:10:13","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1965"},"modified":"2016-05-13T21:16:54","modified_gmt":"2016-05-14T04:16:54","slug":"10-year-study-looks-into-foreign-investment","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/05\/10-year-study-looks-into-foreign-investment\/","title":{"rendered":"10 Year Study Looks Into Foreign Investment"},"content":{"rendered":"<p style=\"text-align: justify;\">A study of luxury market home sales aimed to provide a glimpse into the influence foreign investment is having on various markets. The results were surprising to one leading voice in the industry.<\/p>\n<p style=\"text-align: justify;\">\u201cOne thing I summarized was that the impact was greater than what I anticipated it would be. A full 25% of our group said 25% [of luxury houses] or more were going to foreign buyers,\u201d Phil Soper, president of Royal LePage, which published the study, told Canadian Real Estate Wealth. \u201cThis is the opinion of 250 people. They are a select group, they\u2019re all seasoned experts.\u201d<\/p>\n<p style=\"text-align: justify;\">The large Canadian brokerage released its 2016 luxury properties report Thursday, which included the findings of a survey taken by 250 real estate professionals.<\/p>\n<p style=\"text-align: justify;\">The majority of respondents said foreign investment is increasing. Especially in Vancouver.<\/p>\n<p style=\"text-align: justify;\">&#8220;One third (33%) of those polled in British Columbia believe that at least 30% of luxury properties are currently being purchased by foreign buyers and more than three quarters (79%) said that foreign buyer activity has increased since January 2015 (significantly \u2013 33%; moderately \u2013 45%),\u201d Royal LePage said in the report. \u201cA similar number (81 per cent) believe that foreign buyer activity has increased in the region since 2005 and 88 per cent expect foreign buyer activity will increase further in 2016.\u201d<\/p>\n<p style=\"text-align: justify;\">Investment in foreign real estate differs by region, according to Soper, who says Vancouver and Toronto are at the top end, with Quebec and Calgary at the bottom.<\/p>\n<p style=\"text-align: justify;\">Because of this, Soper argues the overall impact of foreign investment on Canadian housing is small.<\/p>\n<p style=\"text-align: justify;\">\u201cThe impact is very small. It is focused both geographically and by product type,\u201d he said. \u201cThis piece of work was aimed at understanding better what had transpired in our luxury market in the past 10 years.\u201d<\/p>\n<p style=\"text-align: justify;\">And, similar to other studies focusing on this topic, Soper admits it has its faults.<\/p>\n<p style=\"text-align: justify;\">\u201cWhere it gets a little bit dicey with this qualitative research is how to determine if someone is an immigrant, a Canadian citizen, or a foreign national if you aren\u2019t gathering some citizenship metric,\u201d he said. \u201cIt is a subjective study but it\u2019s large enough that it\u2019s allowing us to paint a picture of what\u2019s happening in the luxury market nationally.\u201d<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/10-year-study-looks-into-foreign-investment-207258.aspx\" target=\"_blank\">10 Year Study Looks Into Foreign Investment<\/a> by Justin da Rosa | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A study of luxury market home sales aimed to provide a glimpse into the influence foreign investment is having on various markets. The results were surprising to one leading voice &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/05\/10-year-study-looks-into-foreign-investment\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1965","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>10 Year Study Looks Into Foreign Investment &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/05\/10-year-study-looks-into-foreign-investment\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"10 Year Study Looks Into Foreign Investment &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A study of luxury market home sales aimed to provide a glimpse into the influence foreign investment is having on various markets. 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