Canada’s Housing Market To Be Affected By China’s Wealth Restriction

With the effects foreign buyers have on the real estate market in Canada still indecisive, a large number of buyers from the Chinese mainland are opting for Toronto and Vancouver out of their favorite housing markets.

For the year, things might turn out to be different as Beijing begins to break down the flow of funds and wealth from the country to other parts of the world. The recent decision will have curbs endorsed on companies in China.

Andy Xie, who is a former Morgan Stanley economist said to a news reporting company that he anticipates the strict rules that are being set to be important with a likely sharp decline of the number of buyers of Canadians housing market.