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The Cullen Commission estimated that in 2019 alone, $5.3 Billion of illicit funds was laundered through the Vancouver real estate market, which increased housing prices by 5%. [104] "The Vancouver Model" is a way for Chinese organized crime to launder revenue generated primarily by fentanyl sales through casinos. [105]
According to The Province, in 2016 Vancouver residential prices moved up 18 per cent overall, according to the Real Estate Board of Greater Vancouver, but cooled off just before the province imposed a 15 per cent foreign buyers tax in August. Towards the end of the year falling sales, and in some cases prices, dominated the housing market. [9]
The neighbourhood's residents have an average annual household income of $111,566 ($777,184 in Shaughnessy Heights) and the average house price is $2.89 million, the highest in Vancouver. [ 3 ] [ 4 ] It is also the site of many historical homes, especially in First Shaughnessy.
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The BC provincial government has stated the a total of $5 billion of laundered money from China had been used to purchase real estate in BC raising the prices of Greater Vancouver home prices by up to 5%. [159] For the past 5 years from 2012 to 2017, Vancouver housing prices surged 60 percent. [160]
Sacramento, California. Also includes: Roseville, Arden-Arcade 2025 existing home sale counts year over year: 5.2% 2025 existing home median sale price year over year: 8.9% Combined 2025 existing ...