I am sure some would agree that housing prices are disproportionate with local income levels.  Many would attribute this to foreign investment.  However, there is a lack of information when it comes to investment in BC.

Recent press suggests a possible solution that is used by Australian regulators, where foreign investors are subject to fines that do not follow rules and must be go through a foreign investment review board.  The idea is to prevent foreign investors from investing in homes that are for ‘locals’.  The intent is clear but the outcome is somewhat uncertain. On the other hand, commercial deals appear to remain largely domestic, even with recent marketing efforts targeting foreign investors.

Recently a 8-unit South Granville apartment block listed for $3.199 million; Sold in 8 days for $4.28 million with 14 offers.  The buyer is an investor who owns several properties.  With soaring prices of a single detached homes, some find it more appealing to purchase apartment buildings and live there with family and rent out the remaining units as a mortgage helper.