Remember peeps, China has 1.5billion people... and Vancouver is perceived as a safe place to park their cash. BC only has 4.6million people, and these Chinese only love Vancouver, Richmond, West Vancouver, Burnaby and Coquitlam. They're not really interested in living anywhere else.
China doesn't have 1.5 billion rich people, and any overseas Chinese buyer in our market needs well over a million bucks to enter their preferred neighbourhoods. Probably well over $2 million.
China recorded 2,378,000 millionaires in 2013, according to Boston Consulting Group’s 2014 Global Wealth Report.
Also, Canada has dropped off their radar, we no longer get a mention amongst their favorite foreign property markets. They now have plenty of other very attractive places to choose from with better weather, political stability and much lower property prices.
Australia is top immigration destination for wealthy Chinese
July 11. 2014
BEIJING (CHINA DAILY/ASIA NEWS NETWORK) -
Australia topped the latest list of the most popular destinations for rich Chinese who want to get overseas citizenship or permanent residency through investment.
Second on the list is New Zealand, followed by Germany, Sweden and Singapore.
As Canada has tightened its investor immigration plan and economic prospects in Europe remain murky, Australia and New Zealand have won more Chinese hearts, said Yang Fang, a business director from Globevisa, an immigration agency in Beijing.
However, more and more Chinese are showing growing enthusiasm in buying properties in European countries like Portugal, Spain and Greece to get permanent residency.
"The housing prices in these countries almost dropped to the level of 10 to 20 years ago due to the European debt crisis. Besides, many European countries encourage overseas residents to buy properties in their countries to get permanent residency in order to boost their economies, which are attractive for rich Chinese," she explained.
Asian countries such as Malaysia and South Korea have become increasingly popular for wealthy Chinese, she said.
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.