7.5 percent of residences in Richmond, Canada are owned by non-residents, reports Richmond News (21 December 2017). This was revealed by recent data from Statistics Canada and the Canada Mortgage and Housing Corporation. However, Statistics Canada emphasi that a non-resident owner did not necessarily mean a foreign owner, as it also included Canadian citizen owners who are living abroad. According to Juwai.com, a Chinese real estate marketing firm, in a recent article reported by Global News, the overall impact of foreign buyers on Vancouver’s housing market is not significant, and the most significant factors were low interest rates and access to cheap money.
