China buys Vancouver

maoChina’s citizens have been told not to spend their ever-increasing savings in the domestic real estate market as the government fears speculation will fuel a Chinese housing bubble. Instead, the millions of upper-middle and higher classes of communist Chinese are looking for other safe investment vehicles.

High-end luxury condo properties in posh areas of Vancouver are being snapped up. At an average cost of $5.5 million, many of these properties are beyond the budget of most Vancouverites.

https://www.theglobeandmail.com/news/national/british-columbia/mainland-china-pours-wealth-into-bc-housing/article1600114/?cmpid=rss1

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