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What percentage of housing is built this way? Is the effects of foreign buyers enough to distort the market?
by pm90 4y ago
What percentage of housing is built this way? Is the effects of foreign buyers enough to distort the market?
- voisin 4y ago> Is the effects of foreign buyers enough to distort the market? Yes. Look at Vancouver, Canada for a prime example.
- Tiktaalik 4y agoNot a lot of real clear data on this so it's always up for debate. I can't speak for the situation in Portugal as I don't live there. Maybe they have heaps of data, but when British Columbia was wrestling with a feeling that foreign buying was impacting the market, they literally were not collecting any data and so had nothing beyond vibes and anecdotes to go on. The impact of foreign buyers was seemingly enough though for a major developer in Vancouver, Westbank, to start opening up sales offices in major Asian cities and was explicitly citing its condos as being ideal as pied-à-terres in their marketing materials. With that in mind, if entire major developers are shifting their entire business model, I have to imagine that the foreign buyer market was real and substantial.