Chinese Real Estate Investors Leave Vancouver, Toronto To A New Hot Spot – Montreal:
Real estate investors are a savvy lot.
They always invest where the greatest opportunities are.
And some of the savviest real estate investors are the Chinese.
They are on a constant world-wide hunt where they can make the quickest and fastest buck.
And to them it does not matter which country they place their money in.
For a while Vancouver was a hot magnet for Chinese real estate investors.
They invested in Vancouver – snapping up homes at a rapid pace.
And in the process they drove up prices.
And in an effort to stop all the price speculation, B.C. government’s imposed taxation measures to cool down the market.
And while the market continued to slow down it wasn’t until the new government of NDP Premier John Horgan took over the reins of power that additional new taxes were imposed.
And those cooled down the market considerably, much to the chagrin of investors.
Another favourite for Chinese investors was Toronto.
But when the government placed special taxes on foreign investors on Toronto real estate that market started to cool down.
So now the smart Chinese money has set its sights on Montreal.