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Mortgage Broker News | 29 May 2014, 09:15 AM Agree 0
Vancouver home sellers are beginning to panic that they may be sitting on their luxury properties for a long time.
  • Angela Wong-Liao - Invis Inc | 29 May 2014, 04:34 PM Agree 0
    I am familiar with the Vancouver market as I have many friends and relatives living there. Vancouver is very much influenced by the Asian market, especially from Mainland China recently. The Chinese government is going through a house cleaning strategy to remove all these corrupt government officials and recovering their bribe money that they have invested overseas. They also tightening their foreign exchange policy, that is why it is increasingly difficult for Chinese investors to bring their cash into Canada. Yes, the cancellation of 69,000 visas definitely affected the real estate market in Vancouver & Toronto.
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