Will returning foreign buyers add fuel to the already hot housing market?

Will returning foreign buyers add fuel to the already hot housing market?

  • Community
  • Economy
  • Real Estate
April 7, 2021

In the past few months, domestic buyers drive the market back to record high level while the foreign purchases dropped to almost zero. Prior to the pandemic and adaptation of various anti-foreign investor policies dated back to a couple of years ago, foreign buyers were only accounting for a low percentage of total real estate transaction. We believe what was driving the price of real estate in Vancouver was mainly due to hype and the city’s potential.

Post-pandemic recovery, low interest rate and low property prices encouraged domestic buyer to rush into the market. Today, the real estate market is overheating with high demand and rising prices. The situation could get worse once international travel restrictions relaxes when foreigner and immigrant return to the market.

Immigration, refugees, and Citizenship Canada (IRCC) has relaxed its immigration requirement attempting to attract new immigrant and retain local foreigner to stay in the country. Canadian University planning to return to in-class teaching in September 2021. According to Financial Transactions and Report Analysis Centre of Canada, $43.6 billion were transferred from Hong Kong to Canada in 2020. Furthermore, foreign high worth investor is eyeing the Vancouver market.

The positive news will make the market even hotter, once everything returns to normal, the real estate market might go into hyper mode. The government is planning for it with all the new official community plan, development amendments, and expediated rezoning application processing. Even today, we expect the market will continue to rise due to all the news outlet is reporting how properties are selling over listing price on a daily. The positive momentum is unlikely to stop anytime soon.

Yoyoe Lu

Founder and managing principal

Yoyoe is the founder and managing principal of Claridge. She was ranked one of Vancouver’s top real estate agents. Currently, Yoyoe is our strategic mind leading the team to success. Her affiliation with industry professionals put her ahead of our competitors. Yoyoe is also part of the Rotary Club of West Vancouver, Canadian Homebuilders Association, Urban Land Institute and Urban Development Institute.

Ashley Osborn

Development Site and Investment Specialist

Ashely is our lead land and investment advisor. He has been consistently featured in the annual top 100 real estate deals of British Columbia ranking. With over $15 billion worth of domestic and international real estate investments under his belt, Ashley is one of the top agents in the province. His 20 years of real estate and financial experience make him a master in negotiation and acquisition.

Patricia Wong Chong

Investment and Leasing Specialist

Patricia is our investment and retail leasing advisor. Her experience in brokerage and market research analysis has helped her comprise over $550 million in commercial real estate transactions. Patricia is responsible, detail-oriented, and professional. Her strong work ethic and positive attitude have led her to surpass all her competitors.

Schumann Li

Land Assembly & Residential Specialist

Schumann is a top-producing realtor in the Lower Mainland with more than 30 years’ experience. Over the years, Schumann hasn’t just garnered awards, but the trust of countless customers. Her clients continually refer to her outstanding professionalism, work ethic and poise.

Wendy Kaip

Sales Associate

Whether it’s decoding city policies, strategizing relocation plans, home sellers looking for a trustworthy advisor to unlock their property’s maximum potential- Wendy is here to help every step along the way.

Prior to real estate, Wendy spent over a decade in the mining industry with her attention to detail, keen negotiation skills, extensive network and strong reputation for getting the deal done, bringing endless value to her current real estate clients.

Whether you are thinking about selling to a developer, or have more questions about commercial real estate, Wendy invites you to connect, to see how she can utilize her expertise and team to help create value and maximize your real estate goals.

Simon Chan

Managing Broker

Simon is the managing broker of Claridge Real Estate Advisors Inc. His expertise has helped our agents resolve many difficulties. Not only is Simon knowledgeable with real estate legislation, but he is also very detail orientated. With Simon on our team, our agents are confident to conduct businesses and will always get the support they need to ensure they’re not walking on dirty water.

Frank Zhou


As the analyst of the company, my key job is to help brokers to find marketable clients and locate feasible development sites by collecting and analyzing up-to-date market transaction data and conducting target market and property-level research. Meanwhile, I am also in charge of maintaining the company’s property database to ensure accuracy and comprehensiveness and continuously upgrading the level of knowledge by staying up to date with hot topics, and market trends, and incorporating findings into everyday work. Before joining the company, I worked for CR Group as a real estate investment manager, focusing on capital raising, equity and debt financing, acquisition and renovation. I hold 2 master’s degrees, one in Housing Management and the other in Economics.