Chinese property buyers are turning away from Vancouver towards other Canadian cities according to a new report from Sotheby’s International Realty Canada and Juwai.com.
Since Vancouver introduced its 15 per cent tax on foreign buyers, interest in markets other than Vancouver has gained but has not necessarily resulted in sales.
The majority of Chinese searching for Canadian homes are doing so for their own use including those coming here to study. Montreal is ahead of Toronto, Vancouver and Calgary for ‘education’ use, while Calgary is the clear leader for ‘own use’ other than study.
The data also reveals that most Chinese buyers are not looking for high-end investments; of the searches through the Juwai.com portal were for homes in the Vancouver area 57 per cent were priced below $650,050, rising to 67 per cent for Calgary and 68 per cent for Toronto and Montreal.
MBN
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- A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!
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