forma condos.Canadian property prices are not speculated by Chinese. Property prices in Canada are getting higher and higher, especially in Toronto and Vancouver. Many people think that Chinese buyers have pushed up prices.Please Visit:forma condos to Get Your VVIP Registration Today!
Paul Etherington, chairman of the Toronto Real Estate Chamber of Commerce, does not agree with this view, let alone the introduction of controls on the situation.
On the evening of the 30th, Etherington pointed out that the claim that Chinese investors had entered the Canadian real estate market and caused house prices to soar was untenable. Judging from the current situation, overseas investors buying property in Canada include not only buyers from China, but also buyers from other Asian countries such as India and Europe. Chinese buyers actually account for a very small proportion.
In his view, the main reasons for the year-on-year rise in Canadian house prices include: first, the strong momentum of Canadian economic development; second, low mortgage rates on home loans; and third, the real estate market across Canada is currently quite sound. “even if any of the above three factors change, it is not expected to affect the desire of overseas investors to buy homes in Canada,” he said. ”
Etherington believes that the real estate market is a free market, and anyone who has the financial means to buy a house should be allowed to buy it.
At the same time, some Chinese real estate agents said that in the real estate market in the Greater Toronto area, there are not only Chinese buyers, but also buyers of other ethnic groups. In Wanjin City and Scarborough, two areas inhabited by Chinese immigrants, it is true that Chinese buyers are mainly participating in the price war, but in other more diversified areas, buyers fighting a price war have diversified ethnic backgrounds, and the proportion of Chinese buyers is not large.