Local real estate company Macdonald Realty Ltd says buyers with cash from mainland China accounted for 70 per cent of the firm’s sales in 2014 of single-family homes, condos and townhomes over $3 million in Vancouver, including the west side, east Vancouver and the downtown core.
It also says such buyers in the same areas accounted for only 21 per cent of similar property purchases between $1 million and $3 million, and just 11 per cent when prices were below $1 million.
Last year, Macdonald released a different snapshot of its 2013 city of Vancouver transactions. Looking at only single-family homes and ignoring different price ranges, it found 33 per cent of these sales went to buyers from mainland China.
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