37% of Metro Vancouver sees real estate industry as ‘extremely corrupt’

Report comes as the B.C. government continues to probe alleged links of money laundering in casinos to real estate

In Metro Vancouver, the real estate industry touches a nerve for many when asked about corruption, according to a new report.

Transparency International Canada released results this week from its survey on western Canada’s perceptions of corruption. The survey explored 1,207 people’s views on a wide range of sectors, including political parties and the oil and gas industry.

Nearly four-in-ten, or 37 per cent, of Greater Vancouver respondents described the real estate sector as “extremely corrupt.” That’s compared to to 15 per cent of other respondents.

REPORT: Money laundered through B.C. casinos for years

The report comes as the B.C. government continues to probe hefty allegations linking money laundering in casinos to real estate. Efforts include appointing an expert panel and commissioning Peter German to investigate the movement of dirty money into real estate, horse racing and the luxury car market.

READ MORE: Money laundering in B.C. casinos was a ‘collective’ system failure: report

READ MORE: B.C. asking for tips on ‘dirty money’ in horse racing, real estate, luxury cars

Still, real estate remains a dominant issue due to soaring housing prices, Transparency International Canada said.

“These prices created lucrative opportunities for unethical conduct by real estate agents, with conflicts of interest representing both buyers and sellers enabled by lax and ineffective regulation and a lack of transparency,” the report reads.

“While these practices have led to new rules and government regulation, allegations of conflicts of interest continue to be made against Vancouver politicians and the real estate industry.”

Overall, 47 per cent of respondents perceived federal political parties to be most affected by corruption, according to survey results, followed by provincial political parties and then the federal government.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Surrey latest city to denounce Quebec’s Bill 21

The bill bans public workers from wearing religious symbols while working

Cloverdale ‘Ladies’ Night Out’ shopping event expected to draw thousands

Annual event kicks off the holiday shopping season in downtown Cloverdale

Surrey RCMP say three people deported in connection to brawl caught on video

Police say they have been ‘actively engaged’ in the issue of youth fights in Newton since March

South Surrey’s A Rocha Canada an agriculture-leader finalist

Surrey Board of Trade industry event set for Nov. 21

Guildford highrise proposals pass third reading despite community opposition

City of Surrey received 229-signature petition opposing the plan

Bye bye Bei Bei: Giant panda born in U.S. zoo heads to China

Panda heads back to China as part of cooperative breeding program

B.C. to advocate for frustrated, confused, unhappy cellphone users, says premier

Maple Ridge New Democrat Bob D’Eith to advocate for more affordable and transparent cellphone options

B.C. man who killed Belgian tourist near Boston Bar gets life in prison, no parole until 2042

Sean McKenzie pleaded guilty to second-degree murder of 28-year-old Amelie Christelle Sakkalis

Workers union calls strike vote in SkyTrain labour dispute

Mediated talks are scheduled to begin Nov. 28

‘Very disrespectful’: B.C. first responder irked by motorists recording collisions on cellphones

Central Cariboo Search and Rescue deputy chief challenges motorists to break the habit

Daily cannabis linked to reduction in opioid use: B.C. researchers

Researchers looked at a group of 1,152 people in Vancouver who reported substance use and chronic pain

Bids down, costs up on Highway 1, B.C. independent contractors say

Rally protests NDP government’s union-only public construction

Members of little people community applaud change to drop ‘midget’ term

‘It’s not about sensitivity,’ says Allan Redford, the president of the Little People of Canada

Most Read