Vancouver remains a choice investment as Chinese interest in Canadian real estate recovers post-pandemic.
According to Juwai IQI, an Asian real estate technology group, Vancouver is still popular with mainland and Hong Kong Chinese buyers, even though Canadian real estate inquiries collapsed to an all-time low in 2021’s fourth quarter.
“Chinese demand for Vancouver real estate plummeted during the pandemic, but it has come back strongly since Q4 2021,” said Juwai IQI co-founder and group CEO Kashif Ansari.
Ansari said that demand data is based on buyer inquiries and not sales.
Canadian regulations, taxes and Chinese capital controls combine to limit offshore investment in Vancouver by Chinese families. But if China reopens, Ansari said Canada should expect a rapid increase in visits, property acquisitions and student and immigrant arrivals.
Immigration and education are the main drivers of Chinese investment in Canadian real estate, with most parties buying property for their use and their investment and diversification goals, said Ansari, who bases Canada’s popularity on its long-term appeal. He said that compared with the U.S., Canada’s competitive advantage with overseas buyers has improved over the last two years.
“Canada’s high migration targets and appealing educational system are potent magnets for migrants and ex-pats from all over Greater China. Vancouver is one of the world cities that Chinese buyers like the most.”
This means that Canada’s slowing real estate market may still welcome investment.
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