Episode 91: How Immigration Is Reshaping Canadian Real Estate with Andrew Carros

In this episode of Ask Canada Immigration Lawyer, Evelyn Ackah sits down with Andrew Carros, Chief Operating Officer of Engel & Völkers Vancouver, to explore the evolving landscape of Canadian real estate. With over 23 years of experience and a background rooted in a real estate family, Andrew shares his perspective on the Vancouver market’s unique challenges, including limited housing supply, high international demand, and the impact of recent government policies like the foreign buyers’ ban and changes to immigration rules.

Andrew emphasizes the importance of collaboration between real estate professionals, legal experts, and immigration advisors to help international buyers navigate the complex Canadian market. He also offers thoughtful ideas to improve housing affordability, such as investing in and revitalizing rural communities across the country. Whether you’re a newcomer looking to buy property or simply curious about the intersection of immigration and real estate, this episode offers valuable insights and practical advice.

Links to Find Andrew Carros:

• LinkedIn: Andrew Carros | LinkedIn
• Website: Engel & Völkers

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Here are the key points from Evelyn Ackah’s podcast interview with Andrew Carros:

This informative episode features Andrew Carros, Chief Operating Officer of Engel & Völkers Vancouver, who brings 23 years of real estate experience to the conversation. Evelyn and Andrew discuss how recent government regulations on foreign buyers and immigration have impacted the real estate market, and how global mobility professionals can better support clients navigating cross-border transactions in today’s complex environment.

Andrew Carros’s Extensive Real Estate Expertise

• Andrew Carros has served as the Chief Operating Officer (COO) at Engel & Völkers Vancouver since 2019, bringing 23 years of real estate experience to the forefront
• He gained a unique perspective by growing up in the real estate business. His father ran a brokerage for over 50 years, instilling in him the values of hard work, strong relationships, empathy, and compassion.
• Today, Andrew is recognized as an authoritative voice on the intersection of global mobility, immigration, and real estate—particularly in navigating cross-border transactions within today’s complex regulatory environment.

Vancouver’s Unique Real Estate Dynamics

• Vancouver is described as a “baby” international city, comparable to New York or Los Angeles, drawing global attention, investment, and immigration—historically key drivers of its growth.
• The city has experienced prolonged upward market growth due to consistently high demand and critically low inventory, constrained by natural geographical boundaries such as mountains, the ocean, a valley, and the U.S. border.
• Andrew critiques the Canadian government’s blanket approach to policy, noting that it “lumped the whole country together into bans and taxes.” Vancouver led the way with its foreign buyer’s tax in 2017, but these nationwide measures have since created “super confusing” outcomes for foreign buyers.

Challenges and Impact of Immigration & Foreign Buyer Policies

• Current Canadian policies restrict foreign ownership in major urban centers—including Vancouver, Calgary, and Kelowna—unless buyers hold valid immigration status or a work permit.
• Both Andrew and Evelyn acknowledge that the rules are “kind of complicated.” A lack of clear, consistent communication from the government has contributed to a widespread sense of confusion in the marketplace.
• With immigration at record levels (over 400,000 immigrants welcomed last year under Prime Minister Trudeau), the rental market in Vancouver has come under intense pressure. At the same time, policies that appear to discourage foreign ownership contradict Canada’s reputation as a diverse and welcoming nation.

Proposed Solutions for Housing & Immigration

• Andrew emphasizes the urgent need to build more affordable homes—especially in metro regions—to ensure essential workers such as teachers and nurses can afford to live where they work.
• He also sees significant opportunity in encouraging foreign investment and immigration in smaller or rural communities across Canada, where there is ample land and untapped potential for growth.
• Ultimately, Andrew advocates for a more creative and welcoming policy approach—one that attracts “good, smart people, loving families, people that can contribute to our communities.”

Engel & Völkers’ Client-Centric Approach

• At Engel & Völkers Vancouver, the focus is on delivering “service as the luxury,” prioritizing personalized guidance over just the property itself. Every client, regardless of price point, receives expert support.
• The company takes a team-based approach, personally matching each client with the right advisor and connecting them with professionals such as lawyers and mortgage brokers to help navigate complex transactions. As Andrew notes, buying property is “not easy” to do alone.
• In a market where “trust is the hardest thing to find,” the firm emphasizes transparency, education, and compassion. Real estate professionals act as trusted counsel, helping clients make confident, informed decisions. “Kindness,” Andrew says, “is the new luxury.”

The Power of Global Perspective & Collaboration

• Engel & Volkers’ international network offers its members access to valuable insights and global trends. Andrew reinforces the mantra “never worry alone,” highlighting how colleagues can support each other across markets and borders.
• A compelling example: Andrew’s guidance to a Spanish colleague helped influence housing policy in Mallorca. Instead of implementing a foreign buyer ban, the local government opted for a more innovative solution—donating land to developers to build restricted-profit, affordable housing for locals.
• Internally, Engel & Völkers fosters a culture of collaboration and shared success. With 160 advisors, the company emphasizes continuous education, mastermind groups, and respectful communication, reinforcing the belief that teamwork leads to better outcomes for clients.

Andrew shares valuable insights on the intersection of real estate and immigration, highlighting the importance of clear policy, collaboration, and community-focused solutions. Whether you’re a newcomer, a real estate professional, or simply interested in Canada’s housing market, this episode offers practical takeaways and a fresh perspective.