In parts of Vancouver an estimated 23 per cent of flats are empty because the buyers "are so rich they don't even care about the return on their investment". Photo: EPA

Rich foreign investors drive up home prices in Vancouver, locking out locals

Prices for homes have risen to an average of US$1m in a city where the average income is US$41,000, so many locals are excluded from market

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In parts of Vancouver an estimated 23 per cent of flats are empty because the buyers "are so rich they don't even care about the return on their investment". Photo: EPA
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