Most immigrants in Metro Vancouver are home owners

canadian dollar houseMore than 50 percent of immigrants who arrived to Metro Vancouver between 2006 and 2011 became house owners during the five-year period, a recent study has found. Immigrants bought about 100,000 homes during the five years, out of roughly 220,000 that were sold in that time span. The new home ownership rate was at 73 percent among newly arrived Chinese and at 52 percent among new immigrants from South Asia. Percentages were high among South Koreans, as well, at 51 percent, and Filipinos, at 44 percent.

Another study shows that almost 70 percent of those who live in Metro Vancouver are home owners, and the others live in rentals. 81 percent of Chinese in the area own homes, accounting for roughly 290,000 households. The home ownership rate among South Asians is at 75 percent, representing around 160,000 households. At the same time, 62 percent of Filipinos are home owners, and 59 percent of West Asians, Iranians mostly, own home in Metro Vancouver.

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