Harbourwalk condos.Invest tens of millions of Canadian dollars in luxury housing. A multimillion-dollar mansion in Toronto has recently fallen into the hands of Chinese buyers, but this is no exception, according to industry insiders who have long watched the high-end property market in Toronto.Please Visit: Harbourwalk condos to Get Your VVIP Registration Today!
The deal marks the best part of the Chinese seizure of the Toronto luxury property market since this year, and this trend will continue.
Xu Huafei, a real estate agent with a doctorate in economics, is also keen on analyzing the overall trend of the real estate market and the economic situation at home and abroad while doing business. He said on the 15th that he has always held a positive attitude towards the Toronto real estate market. However, this year’s high-end Toronto real estate market (with a price of more than 2 million yuan) has greatly exceeded his expectations.
Xu Huafei summed up the latest developments in the Toronto luxury real estate market as follows: from January 1 to the present, there have been a large number of transactions in the luxury real estate market in less than a third of the year; and the speed is so fast that in the past tens of millions of luxury homes were sold for seven or eight years, but now they can be sold in 70 or 80 days.
What is particularly unexpected is that Chinese buyers of high-end properties have become the main force, accounting for more than half of all luxury buyers, and the most expensive properties are also bought by Chinese. In the second half of last year, a luxury home worth 10 million yuan was bought by mainland buyers. This year, in addition to the 10 million luxury homes last week, the buyers and sellers of a luxury apartment worth 5.6 million yuan not long ago were even Chinese.
According to Xu Huafei’s in-depth analysis and observation of luxury houses sold in most areas, these Chinese buyers are mainly Chinese in the mainland. This naturally leads to a paradox, that is, in the recent period of time, the impact of the federal government’s tightening of investment immigration policy on China’s rich is self-evident. The industry generally believed that the local luxury housing market would gradually cool down. Some people are even ready to make a bottom. As a result, the market situation this year has exceeded everyone’s expectations. The reason for the analysis should be the separation of people flow and capital flow. That is, many buyers in China are turning their investments overseas.
Xu Huafei sensed the temperature of China’s economic and political climate from the refraction of the Toronto real estate market according to his economic background. Toronto is just a microcosm of Chinese buyers’ frenzied investment in overseas property. This shows that China’s investment is gradually turning, and that Toronto’s real estate market is worthy of investment and has potential.
