(Source: The Province)

The Lower Mainland’s hot market for luxury homes is mainly being driven by buyers from Mainland China, realtors say.

They’re snapping up $2-million-plus homes on Vancouver’s tony westside, and in West Vancouver’s upper levels, starting at $3 million.

It’s helped fuel a record first quarter of luxury home sales, with 227 luxury homes sold in Metro Vancouver, an 184-per-cent spike over the same period last year.

“Recovery in the upper end has been nothing short of remarkable,” said Elton Ash, regional executive vice-president of Re/Max of Western Canada, on Monday.

Read John Bermingham’s full article “Mainland Chinese buyers driving up luxury home prices” in The Province (April 27, 2010)

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