Chinese Insatiable Appetite For Canadian Real Estate Continues

The Chinese have been #1 investors for Canadian real estate … Nothing new.

Instead of slowing down after the infamous Vancouver Foreign Buyer Tax, they come in greater number as if apocalypse is going to land in the Middle Kingdom soon.

The momentum continues, home prices keep going north, millenials remain in the same doldrum as far as housing affordability is concerned.

Now what?

The more the merrier?

Chinese inquiries in Toronto, Montreal, Calgary real estatespiked with Vancouver tax

CBC.ca
Inquiries from China for property in several big Canadian markets spiked in the months after Vancouver introduced its tax for foreign buyers, according to a report based on data from a top Chinese foreign property website.
The report, released Tuesday by Sotheby’s International Realty Canada in conjunction with Juwai.com, said Chinese inquiries for listings in the Vancouver market slumped by 81 per cent year over year in July 2016, the month the 15 per cent tax was announced.

Education key driver of Chinese investment in Canadian real estate: study 

The top reason why foreign buyers from China want to get into the Canadian housing market is education, not investment, according to data from a popular global real estate listings website.
Chinese buyers cite ‘education’ as biggest motivation for buying Canadian real estate, study finds 
Chinese interest in Vancouver real estate not limited to high-end sector: report 
Data sheds light on Chinese interest in GTA real estate 

Meanwhile …

‘It’s terrible, it’s just discouraging’: Desperation sets in for house hunters in red-hot Toronto market

Financial Post
All those numbers pale when compared with the price gain for a detached home in the Canadian city. That was up an average 30 percent to C$1.57 million.

Maybe it is a good thing after all …?

Canada’s red hot real estate heats up apartment market to heights not seen in 30 years

Financial Post
In Toronto, developers are planning to build almost triple the number of apartment units from last year to supply consumers priced out of becoming homeowners.

More about Chinese real estate investment frenzy …

Chinese buyers are more interested in Canada’s conventional homes, not high-end real estate: report

BuzzBuzzNews
Chinese buyers are opting for more conventional homes in Canada’s top real estate markets instead of the nation’s most luxurious homes, according to a Juwai.com and Sotheby’s International Realty International Home Buyer Insights report released today.

Chinese interest in Vancouver real estate not limited to high-end sector: report

Business in Vancouver
Homebuyers from China are often cited as major participants in Vancouver’s luxury real estate market, but a new study from Sotheby’s Canada and Juwai.com found most property searches from China into Vancouver homes were for those on the lower end of …

Chinese home buyers turn attention away from Vancouver

The Globe and Mail
Mr. Henderson said there is a perception that many Chinese buyers are speculating in Canadian real estate, but the survey suggests most buyers, or their university-aged children, will live in the homes they purchase. Juwai surveyed its users about …

International Home Buyer Insights Report Reveals Evolving Trends in Chinese Real Estate Interests, According to …

Marketwired (press release)
China to Canada: International Home Buyer Insights is based on Canadian property enquiry data submitted by potential real estate buyers from China on Juwai.com in 2016, qualitative research on Juwai.com users from the largest centres of mainland China, …

Chinese investment expected to maintain levels

Mortgage Broker News
“Barring unforeseen circumstances, we expect Chinese real estate investment in 2017 to come close to matching that of 2016. There is no firm data, but National Bank of Canada hypothesizes that Chinese invest around $38 billion annually in Canadian …

Brand Report: Chinese Homebuyers Continue to Favor Canada

RisMedia.com (press release)
Chinese homebuyers continue to favor Canada for real estate investment, according to a recent report by Chinese listings portal Juwai.com and Sotheby’s International Realty Canada. The report, “China to Canada: International Home Buyer Insights …

Chinese Searches For Vancouver Homes Plunged 80% Last Summer

Huffington Post Canada
Searches for Vancouver real estate in China tumbled to a fraction of its former levels last year, according to data from China’s largest real estate portal, Juwai.com. The decline in interest from abroad could help explain the 40-per-cent decline …

Demand for luxury Vancouver condos outstrips available supply, says Canadian developer

South China Morning Post
Vancouver’s luxury condo market will continue to spiral higher despite a 15 per cent tax for foreign buyers and tightened capital controls in China, according to a Canadian real estate developer. The city with the most expensive housing market in …

Are Foreign Purchasers Pricing Mississauga Residents Out of the GTA Housing Market?

insauga.com
“Barring unforeseen circumstances, we expect Chinese real estate investment in 2017 to come close to matching that of 2016,” said Charles Pittar, CEO of Juwai.com, in a statement. “There is no firm data, but National Bank of Canada hypothesizes that …

Why Chinese Investors Are Buying Homes In Toronto

eOntarioNow
Interest from China in the Calgary, Toronto and Montreal real estate markets has increased dramatically since the imposition of an additional tax in August 2016 in Greater Vancouver. According to a report by Sotheby’s International Realty Canada and …

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