{"id":4522,"date":"2017-01-12T10:10:49","date_gmt":"2017-01-12T18:10:49","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=4522"},"modified":"2017-01-20T13:38:06","modified_gmt":"2017-01-20T21:38:06","slug":"new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/","title":{"rendered":"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver"},"content":{"rendered":"

Metro Vancouver home sales dropped significantly this past November, but new BC government data shows that the same can\u2019t be said for foreign purchases of residential real estate.<\/p>\n

Released January 6th, the stats show that in November foreign buyers were involved in 204 of Metro Vancouver\u2019s 1,974 residential real estate deals. That works out to 4.1% of transactions, up slightly from 3 percent in October, 1.8% in September and 0.9% in August.<\/p>\n

Foreign-buyer activity was highest in Burnaby and Richmond, where nearly 9% of homes bought in November went to foreign buyers. By comparison, only 4.4% of residential real estate deals in Vancouver involved foreign buyers that month. The Globe and Mail points out that in Vancouver and Richmond, but not Burnaby, foreign buyers bought more expensive homes than locals.<\/p>\n

The BC government began tracking foreign purchases of residential real estate in the province on June 10th, and found that from then until August 31st, just over 13% of Metro Vancouver home sales involved foreign buyers. To curb that activity, it introduced a 15% tax on foreign buyers on August 2nd.<\/p>\n

BC Premier Christy Clark has said that the tax is having the impact that the government intended. \u201cMy hope is that many of those units that would have sold to foreign buyers, will now be sold to British Columbians,\u201d she commented in September.<\/p>\n

And while the number of Metro Vancouver deals involving foreign buyers has been slowly increasing since the tax was first introduced, experts seem to agree that it\u2019s continuing to work as it should.<\/p>\n

Speaking to The Vancouver Sun about November\u2019s data, Andrey Pavlov, a real estate finance specialist at Simon Fraser University, said, \u201c[t]here is a huge drop. There may be some seasonal variation, like there normally would be on all transactions, but the drop is so significant that it couldn\u2019t possibly be explained by seasonal variation.\u201d<\/p>\n

Since it was instated, the tax has generated $48 million for the BC government, with $24 million of that amount coming in November. All proceeds are being put toward affordable housing initiatives.<\/p>\n

New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver<\/a> by Charlotte McLeod | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"

Metro Vancouver home sales dropped significantly this past November, but new BC government data shows that the same can\u2019t be said for foreign purchases of residential real estate. Released January … [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-4522","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"\nNew Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver • 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\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Metro Vancouver home sales dropped significantly this past November, but new BC government data shows that the same can\u2019t be said for foreign purchases of residential real estate. Released January … [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver\",\"datePublished\":\"2017-01-12T18:10:49+00:00\",\"dateModified\":\"2017-01-20T21:38:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/\"},\"wordCount\":365,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/\",\"name\":\"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver • Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2017-01-12T18:10:49+00:00\",\"dateModified\":\"2017-01-20T21:38:06+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/01\\\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling & Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver • Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/","twitter_card":"summary_large_image","twitter_title":"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver • Rory C Real Estate | Oakwyn Realty","twitter_description":"Metro Vancouver home sales dropped significantly this past November, but new BC government data shows that the same can\u2019t be said for foreign purchases of residential real estate. Released January … [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver","datePublished":"2017-01-12T18:10:49+00:00","dateModified":"2017-01-20T21:38:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/"},"wordCount":365,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/","url":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/","name":"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver • Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2017-01-12T18:10:49+00:00","dateModified":"2017-01-20T21:38:06+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2017\/01\/new-data-shows-foreign-buyers-are-slowly-returning-to-metro-vancouver\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"New Data Shows Foreign Buyers Are Slowly Returning to Metro Vancouver"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling & Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/4522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=4522"}],"version-history":[{"count":2,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/4522\/revisions"}],"predecessor-version":[{"id":4648,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/4522\/revisions\/4648"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=4522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=4522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=4522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}