Real Estate Procurement Opportunities In Canada And England

England is a great place for investing according to Christie’s International Real Estate’s head, notwithstanding the ongoing political chaos and the sad event that is sending fear in the hearts of many in London, including the prime central London (PCL) housing market, CEO of Christie’s International Real Estate.

Dan Conn, said earlier on, “The U.K. market will always be a strong market. Although you have a depressed currency…soft prices and low transaction volumes. Consequently its true supply is lower, people have taken properties off the market, however I think the U.K. is a great buying opportunity.”

He also added, “There are pockets in Canada that I think are great buying opportunities…London, Vancouver, Toronto, these are all great places to live, you don’t get away from that dynamism.”

Conn has an undesirable outlook in the luxury market in UK, due to the weakness it has shown in the past, with the volumes being low for about a decade now, as charted by Dan.

The performance of the PCL’s market has been sloping from last year as a result of the hallmark changes in duty in the United Kingdom, which has now been mostly absorbed. The same goes for Vancouver in Canada, which introduced a 15% tax for foreign buyers and Hong Kong, where prices were affected for some time by taxes. Toronto has experienced a price increases in the costs of properties, it also happens to be the city next in line to have a go with such guidelines.

Christie gave an account of Hong Kong’s recover; “If you’re in mainland China and you’re thinking about where to set up your capital, you have to find a safe place to invest. The policies that you’re seeing from a number of governments in what were lucrative target markets are not nearly foreign investor friendly. Therefore part of it is just trying to find a safe place for capital and part of it is a currency hedge.”

J C Loum


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