Wealthy foreign investors are likely to shift their money to the commercial side of Vancouver’s real estate market to avoid a housing tax, just as deals for office, retail and industrial properties reach an all-time high, brokerage Re/Max Holdings Inc. said. Commercial real estate transactions in the city climbed to C$7.14 billion ($5.41 billion) in
John Duchow and Marla Clarke dreamed of buying a home in Vancouver. But when housing prices kept outpacing their savings, the pair say they became real estate refugees, forced out by an ever-climbing market. Duchow and Clarke decided to look east to St. John’s, where Duchow has family roots and Clarke was more than willing to plant some new ones.
Foreign buyers are leaving Vancouver en masse, instead heading to cities like Seattle and Toronto to invest in real estate, according to numbers provided to Global News from Chinese realty website Juwai.com. Juwai.com is “where Chinese find international property” according to their website. They claim to have over 2.4 million real estate listings across 58
