More than 25% of West Van Homeowners own Multiple Homes

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While home ownership continues to be far out of reach for many families, new stats show that in West Vancouver, almost 28% of home owners own multilple properties. 

Of those 19% own 2 properties, but over 5% own 3 properties over and 3% own 4 or more properties.

It's an interesting question knowing the kind of struggles that many people have looking to buy their first home when we have a proportion of the population that has two or three or four homes or more.


Vancouver Real Estate & Luxury Homes - Brock Smeaton


In the District of North Vancouver, fewer people own multiple properties than in West Vancouver, but there are still more multiple-property owner there than in Metro Vancouver as a whole.

Over 19% of North Van homeowners own more than 1 home, and of those 14.6% own 2, 3.3% own 3 and 1.5% own 4 or more.

In Metro Vancouver as a whole, 16.4% of owners own multiple properties.

For the Mayor of West Vancouver, Mary-Ann Booth, she is not surprised by these stats. She says, "we have 1,700 empty houses in West Van, and we are a magnet for foreign investment. For plunking money into real estate or whatever reason."

It's a bit of a vicious cycle. It appears the only way you can afford to live in West Van is to have a lot of money, and the way you can make money the quickest is to buy and sell real estate.


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