Property on Vancouver's west side has always been expensive, but an influx of wealthy Asian buyers has sent prices soaring to a benchmark of $1.9 million.
That benchmark has shot up by more than $260,000 since November, fueled at least in part by buyers from China.
"We've done 45 sales this year. Half of those have been mainland Chinese," said Tom Gradecak of Westside Realty.
Most of those people are investor class immigrants, who require huge amounts of money to come to Canada.
"Many of these immigrants are well heeled indeed," said Cameron Muir, analyst for the B.C. Real Estate Association.
"They need to post about $800,000 investment and have a net worth of at least $1.6 million."
John Lichtenwal of RE/MAX Metro Vancouver says that some immigrant buyers are planning ahead.
"We're seeing a lot of offshore buyers who are looking at moving here in two to three years, but they're putting their money -- parking it -- into real estate," he said.
While the high prices of the west side might seem astronomical to many Vancouverites, Lichtenwal says they could go even higher.
"When you look at affordability, you have to look at the rest of the world, and Vancouver is rated 75th most expensive city, so we've got a lot of room to grow," Lichtenwal said.
With a report from CTV British Columbia's Shannon Paterson