This is an article found in the June 29 of Business in Vancouver. It talks about the effects of Mainland Chinese investors on the Vancouver property market. Take a look at what our principal, Eric Lee, has to say about this current trend of oversea investors.
Vancouver’s stable rental market continues to draw investors, despite a slight uptick in vacancies. In the latest deal, 998 Thurlow Street, a 44-unit apartment block built in 1916 and listed with Avison Young, sold for $12.1 million.
“It sold at full price – quite amazing,” remarked veteran broker David Goodman of Macdonald Commercial, who expects close to 85 apartment properties to trade in Metro Vancouver this year. A total of 74 buildings changed hands last year…
Written by: Peter Mitham
Date: June 29, 2010