1997 Significant Asian immigration and investment in Vancouver in anticipation of the Hong Kong ‘turnover’ to China
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In 1997, China took ownership of Hong Kong, a former British Colony.
The Anticipation of the ‘turnover’ led to significant Asian immigration and investment in Vancouver. Asian investment increased residential property values dramatically in the second half of the 1980s. It impacted the West End and single-family market across the west side of the City. An initial impact was demolition of old houses to be replaced by larger new homes.