Here's a quote for you from way back in 2010, courtesy this paper:

"The economic impact of wealthy buyers from Mainland China...is no secret to the city's (Vancouver) real estate industry.

"Buyers from Hong Kong in the 80s and Taiwan in the 90s,  had a huge impact on property values, this third wave from Mainland China is projected to be far bigger. This wave of buyer is newly rich and seeking luxury properties on the city's West Side, in downtown condo properties, and to a lesser extent, in Richmond and Burnaby. Buyers from Mainland China are even buying up recreational properties in places like Kelowna."

We've sold about $150 million in the last two months," says real estate marketer Mr. Wong. In terms of purchasing power, they go for the big residential single detached homes - that's all we're hearing.

It might be unbelievable to Vancouverites who've long been priced out of the market, but to the newly wealthy Chinese, Vancouver is relatively cheap."

continued: