The Inside Scoop
I was recently interviewed by CBC and the Vancouver Observer about why the Chinese are so interested in Vancouver real estate. They thought I’d be the realtor to ask, as I have been working closely with many Asian buyers and investors.
Sleeping Beauty
Vancouver remains one of top three cities throughout the World to live in. It is a safe city, with a reputable school system and has the most temperate and humid climate across the country. The air and water quality compared to China are also unmatched. Politically, Canada is a stable country. Financially it is one of the more secure countries in the world. Not to mention, Vancouver, until recently, was a hidden treasure. Look around: there aren’t many cities in the world with such natural beauty.
Vancouver Is A Good Match For The Chinese
It is a relatively easy (12 hour) commute from Hong Kong with direct flights to Vancouver daily. Additionally, there is a well-established Chinese network already in place here.
Practicality
There is a rapidly growing middle class in China that is just beginning to realize that they can afford homes abroad. Recent tax increases to own a second property in China make it more appealing to own real estate in Vancouver. The Chinese want to use their newfound prosperity to make a better future for their family.
Good For The Economy
The 2008 recession proved to be an interesting time for real estate. In efforts to stimulate market activity, the government kept interest rates low. However, the real reason the market recovered as quickly as it did was because of Asian buyers. They had the financial means to do so at a time when no one else could and reaped the benefits of lower prices. Since then it triggered more Asian buyers. This is reflected in our ever-increasing housing prices.
Here's the most recent article from Blookberg BusinessWeek: http://www.businessweek.com/magazine/chinas-superrich-buy-a-better-life-abroad-11222011.html
Social Media
If you would like more information please feel free to contact me at anthea@antheapoon.com. I write about Vancouver real estate and post the latest deals, tips and hot spots on my social media. Let’s connect!
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