British Properties – Priority Choice For High End Chinese Buyers

Detached home sales in February in West Vancouver were 113 that is up almost 50% on February 2010 and was the highest level ever for February by 45%. This has been driven by an unprecedented number of Chinese buyers both from mainland China, Hong Kong and people already living here as the value of West Vancouver compared to Vancouver Westside was discovered.

The most popular price point by far and often with multiple offers was anything with a view and near to schools under $3 million dollars and this is not surprising as it is hard to even buy a house on Westside for this price in good school catchment areas.

Above $ 4 million the market was still strong but a much more discerning buyer was evident and quality and newness of construction and a view were the most important factors.

In this price range above $4 million is was interesting to note that whilst the British Properties continues to be the area of choice for high end Chinese buyers we did start to see them go further afield and I am sure this will continue.

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