While San Francisco has seen its fair share of lucky number eight sales, especially at the high-end, over the past few months, it’s nothing compared to the impact buyers from mainland China appear to be having on Vancouver.
Sales of detached homes, townhouses and condominiums in metropolitan Vancouver jumped 70 percent in February from January, to 3,097 units from 1,819, and were up 25 percent from a year earlier, according to the Real Estate Board of Greater Vancouver. In March, sales climbed 32 percent from February, to just shy of a record for the month of 4,371 transactions set in 2004. Sales increased by 80 percent from two years ago.
And developers and remodelers take note, “Every new house has two kitchens: a large Western- style one and a small “wok” kitchen with a stove, sink, strong exhaust fan and door to seal off cooking aromas.”