Immigrants Advised To Settle Outside Vancouver
The immigration minister of Canada said that due to the aging population, the county is in need of people who are willing to settle in Canada as permanent residents. However, it is best that they find a place to live in, somewhere that is not caught up in the hot real estate markets.
Vancouver Sun reported that, according to John McCallum, the government will be looking for ways to keep track of the number of immigrants who enter the country. The proposal for the upcoming three years will be announced publicly next month.
On the other hand, he said that the last thing they will want is for all the immigrants who come into the country to either stay in Vancouver or Toronto. The minister said it is better to have the immigrants evenly spread across the country, mentioning that there is a pending need in Atlantic Canada.
Even though the evenly spread of immigrants across Canada will be a good thing for other real estate markets, investors from China do not seem concerned about the 15 percent tax that was introduced in Vancouver recently. Mr. McCallum was hoping to have it raised; however, no one brought it up and thus the topic was not discussed.
Mr. McCallum was expecting to have it raised; however, no one brought it up and thus the topic was not discussed.