Chinese Influence In Vancouver
Vancouver has been flooded in recent years by tens of thousands of investor-class immigrants from mainland China. These Chinese buyers choose Vancouver as it is a stable and picturesque place to park their capital in luxury property.
They also achieve their objective of getting permanent residence in Canada, while their spouses can settle in with their children to attend schools and universities in Vancouver. Some of these Chinese buyers are
Strong demand from new immigrants, easy credit and low interest rates have resulted in strong demand that has helped drive up the average price of a single-family home in Vancouver to around $1.2-million.
Chinese economy has a strong influence on Vancouver housing market
There is no doubt a strong influence of China’s economic state on the Vancouver’s housing market. The Chinese economy is one of the biggest drivers behind housing sales activity in the area. The low interest environment has further helped to boost demand for homes in Vancouver.
A big factor that cannot be measured is the money that had been siphoned out of China over the years. As reported in "Leaked Records Reveal Offshore Holdings of China’s Elite", real estate in the most desirable cities around the world invariably are the safe harbours for such offshore wealth.
If you like to have a discussion on your realty needs, kindly contact James Wong at 604-721-4817.