Canadian immigration and home ownership: According to a report by the "Vancouver Sun," geographer Daniel Hiebert of the University of British Columbia conducted a unique survey and found that immigrants from China and South Asian descent have a much higher rate of home ownership than immigrants from other ethnic groups and the general public, with 73% of new Chinese immigrants owning homes within five years, ranking first. The survey shows that immigrant families have an important influence on the sharp rise in housing prices in Vancouver and Toronto.
Chinese immigrants have a 73% home ownership rate within 5 years
Hiebert pointed out that after cross-researching housing and immigration data, it was found that between 2006 and 2011, the proportion of immigrants who became homeowners within five years of arrival was 53%. Among them, new immigrants from China ranked first, with a home ownership rate of 73%; followed by those of South Asian descent, at about 52%, ranking second in the list of home ownership by new immigrants in the Greater Vancouver area. Next were those of Korean descent at 51%; White and Filipino immigrants were both at 44%.
Ethnic Chinese bought 290,000 homes in Greater Vancouver within 5 years
Hiebert pointed out that during the above 5 years, the home ownership rate of all residents in the Greater Vancouver area was about 70%. If calculated solely by ethnic minority, regardless of immigration status, ethnic Chinese had the highest proportion of home ownership, reaching 81%, accounting for 290,000 homes in Greater Vancouver; those of South Asian descent ranked second, about 75%, equivalent to 160,000 homes.
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