Saturday, July 17, 2010
Why don’t they buy in London too?
Half a world away, a handful of Chinese citizens are feverishly planning a Canadian real-estate shopping excursion. Each of them expect to drop at least a half-million dollars on downtown condos during their 10-day visit. â€œWith the rising risk of the bubble bursting in the Chinese real estate market, there is a demand for overseas real estate for diversification, safety and relatively high rental yield.â€ â€œThe purpose for this trip is to find good deals for immigrants and investors. We do not intend to bring speculators to Canada." Most foreign investors make the purchase sight unseen.