- Joined
- Apr 12, 2009
- Messages
- 76
As a Chinese Canadian who live in Canada, but still have family in Beijing, I totally agree with Thomas. Asian immigrants will push the Vancouver real estate price up more...you will see the price increase again in the near future. My last visit to China was last May, I couldn`t believe how much the real estate price in Beijing now. The condo my parents live in is more expensive than here in most Vancouver areas. About 1300 sqft condo valued at around $600,000 Canadian. It`s just at average/medium priced location. There are so many people in China who have a LOTS of money. There is very common that new Chinese immigrants buy million dollar house in Vancouver in cash.
Canadian immigration policy will affect the real estate market. As long as they open the door for rich Chinese people, Vancouver real estate price will go up. Yes, Chinese people like Vancouver because of the reasons Thomas mentioned. They like their kids study here ( from elementary to high school) and they like to retire here.
Chinese real estate investment policy will also affect real estate market here. When I was in China, Chinese government just announced new policy for buying investment properties. Before there is no limit how many properties you can buy as long as you can afford it. Now the policy is limit to 2 properties. Which is mean if you have owned 2 properties already, it`s almost impossible to get finance for the third one. Also, government will charge huge amount of tax on third, fourth properties. Chinese government to do this is to prevent the further price increase, and to provide affordable housing to average people. Where the rich people going to invest their money in real estate? Vancouver is a good place.
I am only talking about how Chinese people will affect real estate market in Vancouver, because that`s what I know.
Because of the open immigration policy, Vancouver will attract rich and wealthy people from other countries too.
Canadian immigration policy will affect the real estate market. As long as they open the door for rich Chinese people, Vancouver real estate price will go up. Yes, Chinese people like Vancouver because of the reasons Thomas mentioned. They like their kids study here ( from elementary to high school) and they like to retire here.
Chinese real estate investment policy will also affect real estate market here. When I was in China, Chinese government just announced new policy for buying investment properties. Before there is no limit how many properties you can buy as long as you can afford it. Now the policy is limit to 2 properties. Which is mean if you have owned 2 properties already, it`s almost impossible to get finance for the third one. Also, government will charge huge amount of tax on third, fourth properties. Chinese government to do this is to prevent the further price increase, and to provide affordable housing to average people. Where the rich people going to invest their money in real estate? Vancouver is a good place.
I am only talking about how Chinese people will affect real estate market in Vancouver, because that`s what I know.
Because of the open immigration policy, Vancouver will attract rich and wealthy people from other countries too.
