Vancouver Growth Primarily Second Homes

Construction is booming in Vancouver, with tall condo buildings rising around the city. The city has become more sophisticated over the last several years, and has attracted a significant market of second-home buyers.
December 6, 2008, 11am PST | Tim Halbur
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"Vancouver became a much more international city after the World Exposition was held there in 1986. Asians began buying and developing property in the late 1990s. The city attracted Americans, too, many to a growing film industry.

Ten years ago, Steven and Dona Kirby, full-time residents of Reno, Nev., paid 1.35 million Canadian dollars for a three-bedroom, 2,400-square-foot condo next to Coal Harbour. Although the city has become more popular, they have kept their place, usually spending six weeks at a time in it. They also own a place in Fiji.

'It was inevitable,' Mr. Kirby, now a retired lawyer, said of the city's growth, 'but it has not changed the way we feel about Vancouver one bit. There's been an influx of people, but it hasn't affected our lifestyle at all.'"

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Published on Friday, December 5, 2008 in The New York Times
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