July 28, 2021
Real Estate

A new wave of buyers expected to hit B.C. real estate market

Vancouver is the favoured destination for the 300,000 or so passport holders who want to escape political instability in Hong Kong, as well as the high numbers of newcomers to Canada.

DARRYL DYCK/The Canadian Press

Throughout the pandemic, home sales soared, and in some markets, set record prices. Industry insiders say that postpandemic, the B.C. housing market is expected to boom again – driven by Canadians returning home and the federal government’s plan to bring in more than 1.2 million immigrants by 2023.

The wave is already happening according to Jacky Chan, president of BakerWest Real Estate Inc., who works closely with developers. BakerWest is the new Vancouver division of Baker Real Estate, Canada’s largest preconstruction sales and marketing agency, Mr. Chan says.

Mr. Chan says Baker’s sales are showing dramatic signs of a new wave of buyers.

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