New data from the Ministry of Finance shows that Toronto real estate has a bigger problem than foreign buyers, speculators from Toronto.
This week we found out the world’s most expensive cities, Chinese buyers might have hit peak, and Canadians are making less than last year.
Still waiting for foreign buyers? Because the founders of Juwai, China’s largest international property portal have just cashed out, so…
We summarize this week’s smartest insights, including Asia’s speculation problems, Vancouver’s buying pools, and Toronto real estate prices.
Did foreign buyers run the Canadian real estate market in March? Not likely, since China saw another month of capital inflows, not outflows.
Think a foreign buyer tax reduced sales of Vancouver real estate? Not exactly. Declining sales have more to do with a China stopping outflows.
Vancouver real estate saw less than a quarter of the typical buying during the usually busy Chinese New Year period.
Foreign transactions of luxury real estate in Vancouver are on the decline. Both the number of transaction and median price are dropping.
The biggest travel season in history is going down for Chinese New Year, and apparently many of the travelers plan on hunting for property.
Juwai, China’s largest international property portal, has partnered with China’s Tencent to ramp up sales of US and Canadian real estate.