Chinese Buyers Focus Property Search On Canadian Cities Other Than Vancouver

Sotheby’s International Realty Canada and Juwai.com released a report in which they show how Chinese property buyers are looking at other Canadian cities rather than Vancouver.

Since the introduction of the 15 per cent tax on foreign buyers in Vancouver, interest in other markets has gained but has not necessarily resulted in sales.

The majority of Chinese search for Canadian homes for self-purposes including those coming here to study. Montreal is ahead of Toronto, Vancouver and Calgary for ‘education’ use, while Calgary is the clear leader for ‘own use’ other than study.

The data also reveals that most Chinese buyers are not looking for high-end investments; of the searches through the Juwai.com portal were for homes in the Vancouver area 57 per cent were priced below $650050, rising to 67 per cent for Calgary and 68 per cent for Toronto and Montreal.