Following the introduction of the 15 per cent foreign buyer tax in Vancouver, well-off Chinese property buyers are trying to figure out other options to have their funds put into an investment.
A feedback was given by Sotheby’s International Realty based in Seattle that there had been a surge in the sales of homes from mainland China since the month of August. However, the additional tax that was endorsed was not the only thing that is pushing the buyers towards the south of the border.
The President as well as the CEO of RSIR, Dean Jones said; “For now, Chinese Nationals enjoy 10-year multi-entry visas into the US as well as opportunities for EB-5 investments that can lead to US citizenship. We anticipate these programs will remain in place but it’s too early to tell. Global wealth seeks financial safe harbor, and sudden policy changes in China and Canada.