Low dollar equals ‘bargain’ Vancouver real estate for international buyers

The low dollar, the interest rate cut and the recovery of the American economy should mean good news for the real estate markets in most places in B.C., experts say.

But the plummeting cost of oil and the resulting instability of the Canadian economy could hurt domestic demand and spell bad news for resort areas such as the Okanagan, which rely on people from Alberta buying vacation homes.

Dan Scarrow, vice-president of corporate strategy at Macdonald Realty Ltd., who is based in Shanghai for the Vancouver real estate company, said he has been talking to clients in mainland China about the dropping Canadian dollar and what it means for their plans to buy real estate in Vancouver.

Read more: http://www.vancouversun.com/business/dollar+equals+bargain+Vancouver+real+estate+international+buyers/10752389/story.html#ixzz3Q4fTbPpS

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