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The Foreign Buyer: Vancouver vs Victoria


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#41 pherthyl

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Posted 29 May 2015 - 06:32 AM

I am starting to see some significance this year in certain areas.

 

Interesting.   Gordon head I assume?  

Did you say the VREB took out the buyer origin question this year? 



#42 insanelydeadlydisease

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Posted 29 May 2015 - 09:09 AM

I've bought 3 homes now and have never been asked to take a survey so I'd say these vreb numbers are next to useless.



#43 pherthyl

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Posted 29 May 2015 - 12:19 PM

I've bought 3 homes now and have never been asked to take a survey so I'd say these vreb numbers are next to useless.

 

I believe the survey is filled out by the realtor not the buyer.


Edited by pherthyl, 29 May 2015 - 12:20 PM.


#44 jklymak

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Posted 29 May 2015 - 12:25 PM

I believe the survey is filled out by the realtor not the buyer.

 

Right, but they really have no business releasing personal information (like country of origin) in a survey.



#45 Mike K.

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Posted 29 May 2015 - 01:59 PM

Marko, how did you deal with that survey?


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#46 pherthyl

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Posted 29 May 2015 - 09:25 PM

Right, but they really have no business releasing personal information (like country of origin) in a survey.


Aggregate anonymized data isn't really personal.
Look on realtor.ca they have demographics and ethnicities listed for neighbourhoods. Now that's a little odd.

#47 MarkoJ

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Posted 29 May 2015 - 09:37 PM

Marko, how did you deal with that survey?

 

Every time I represent a buyer the survey is emailed to me and I fill it out for that transaction.  This year they've cut it back from 9 or 10 questions to only 5 questions; origin of buyer has been removed.

 

Aside from the survey when a sale is reported in our system the buyer's city of origin and country are reported and I have access to this on every single sale.


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#48 Mike K.

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Posted 30 May 2015 - 08:55 AM

Is that for your sales only, or can you pull aggregate data?


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#49 MarkoJ

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Posted 30 May 2015 - 05:51 PM

Is that for your sales only, or can you pull aggregate data?

 

For all sales, problem is sometimes realtors enter in "PIPA" (Personal Information Protection Act) instead of buyer city so aggregating the data would have flaws.

 

For example, I can tell you that today a buyer from Beijing purchased a home in Saanich.

 

Then you also have the data problem of landed immigrants living in Victoria, for example, and purchasing property but the funds are coming from overseas.  We report this as a "Victoria" buyer city.

 

Right now there is strong appetite for homes in Saanich East from foreign buyers or local buyers with foreign funds, or however you want to word it.


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www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#50 sebberry

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Posted 30 May 2015 - 06:02 PM

Right now there is strong appetite for homes in Saanich East from foreign buyers or local buyers with foreign funds, or however you want to word it.

 

 

Income property by the university?


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#51 MarkoJ

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Posted 30 May 2015 - 07:32 PM

Income property by the university?

 

Sometimes just property.  It isn't always for income.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#52 Mike K.

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Posted 01 June 2015 - 07:27 AM

Then you also have the data problem of landed immigrants living in Victoria, for example, and purchasing property but the funds are coming from overseas.  We report this as a "Victoria" buyer city.

 

Just as I thought. The VREB can't possibly know definitively what the status of every buyer is.


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#53 aastra

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Posted 01 June 2015 - 10:25 AM

I'm not in the real estate game but a while ago I was talking about Victoria with some folks from China and curiously enough they asked me what Gordon Head near UVic was like. It seemed to be the only neighbourhood in Victoria that they knew the name of.



#54 rjag

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Posted 01 June 2015 - 12:59 PM

Looks like the media has found its new boogeyman....the foreign owner. Xenophobia is alive and well......amazed that they aren't buying bedsheets and providing instructions as to how to burn a cross?  

 

What about those folks who are lucky enough to own a vacation home? What about the cottage you inherited from Grandma at the lake after she passed away? Is it ok for you as you have a passport that proves you are "one of us" not "one of them"? Is it only in urban areas? Who determines affordability?

 

I speak with a funny accent being originally from Scotland....is it ok for me to buy a condo in Vancouver for my kids going to UBC but when schools not in session it will sit empty the rest of the time? Or should I put it in my wifes name as she is 10th generation Canadian?

 

If any of you are interested, you should look at the idiocy that was in place in the UK for a while called the 'under occupancy penalty" or "bedroom tax" where if you were living in a council house and you had a spare bedroom you were penalized if no-one was using it.....http://en.wikipedia....cupancy_penalty

 

I thought we were a rainbow nation of immigrants and embraced all cultures.....I guess except for the ones that we can manufacture and use as a scapegoat to distract from the real reasons of high priced real estate.... 


Edited by rjag, 01 June 2015 - 01:01 PM.

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#55 jonny

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Posted 01 June 2015 - 01:01 PM

I agree rjag this is British Columbia not Quebec.



#56 aastra

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Posted 01 June 2015 - 01:40 PM

 

...you should look at the idiocy that was in place in the UK for a while...

 

Quite a broad topic, no?*

 

*Just a joke. Relax.


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#57 pherthyl

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Posted 01 June 2015 - 05:46 PM

.I guess except for the ones that we can manufacture and use as a scapegoat to distract from the real reasons of high priced real estate.... 

 

Which is?



#58 Sparky

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Posted 01 June 2015 - 07:48 PM

Here is a nifty little group that is putting out warnings about Asians and real estate in Nanaimo.

 

https://puttingcanad...anaimo-forever/



#59 Mike K.

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Posted 02 June 2015 - 04:58 AM

I agree rjag this is British Columbia not Quebec.


I just happen to be on a bus in Quebec as I write this. This is not the Canada we know out west. You'd better be prepared to be a second class citizen if you don't speak French. Heck, even bus drivers on the Ottawa side wished me luck when I was transferring onto the Gatineau system without a lick of French.

Notice how the signs on public transit are in one language in a multilingual nation?

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#60 lanforod

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Posted 02 June 2015 - 07:30 AM

I just happen to be on a bus in Quebec as I write this. This is not the Canada we know out west. You'd better be prepared to be a second class citizen if you don't speak French. Heck, even bus drivers on the Ottawa side wished me luck when I was transferring onto the Gatineau system without a lick of French.

Notice how the signs on public transit are in one language in a multilingual nation?

IMAG3324.jpg

Most things here in BC are English only, to be fair. Just larger government stuff that has both.


Edited by lanforod, 02 June 2015 - 07:30 AM.

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