The Lenfesty Report, May 2014

(May 31, 2014 )

Friends, clients & neighbors:

In spite of living in one of the more expensive areas of the world for real estate, this chart shows that the percentage of families who own their homes in the Vancouver area is right in line with ownership levels in other areas of the developed world.

The ownership level in Greater Vancouver is only slightly lower than in the rest of Canada – and exactly the same as in sleepy Victoria.

And here’s a stat for you: The average per square foot costs of urban apartments in Moscow are about $1,700, in Toronto $825. But investors can buy a condo in trendy Yaletown for just $661 per sq ft and in Coquitlam for a bargain $315 (the actual April sale average from MLS®, converted to US$).

Home Ownership as a % of Total Households:
EU Average 72%
Canada 69%
Britain 65%
United States 64%
Japan 61%
Germany 53%
Vancouver 65%
Victoria 65%

Sources: The Economist (Vancouver & Victoria from Census Canada); REBGV