ACTIVE
SOLD
RSS

Toronto- Foreign students drive real estate market
Mar 15, 2012

 

As more people get exposure to Canada as an offshoot of globalization, the overseas investor market will rise, Hlinka said. As an instructor at George Brown College in Toronto, he has seen an explosion in the number of foreign students.

 

"When their parents come to visit, they get an idea of what real estate costs here, and they can't believe how cheap it is. They want to buy because they think it's a bargain."In addition to China, investors pouring money into real estate are flocking to Canada from the Middle East, Korea, Russia, India and the Philippines as well, said Tony Ma, who owns HomeLife Landmark Realty in Markham.About 65 per cent of Ma's agents are Chinese and the bulk of his business comes from Chinese clients. Most are new immigrants to Canada, but about 20 per cent are foreign investors, including parents overseas who buy on behalf of their children studying in this country.

 

Fewer than five per cent are pure investors with no ties to Canada, said Ma, a former neurosurgeon who moved to Toronto from Zhengzhou, China, in 1998."Most of our buyers are part of Canadian culture. I don't think they are going to push local Canadian people out of the market. When immigrants come to Canada today, they have money, not like when I came to Canada 20 years ago. I didn't have money."Last year, buoyed by his strong ties to the mainland China market, Ma's agency sold 263 homes priced at more than $1 million, with about 40 per cent of those being all-cash deals with no conditions attached.


Drawn to Canada

 

Canada's stable government and banking system and the relatively low prices draw investors, he said, pointing out that while condos in downtown Toronto can sell for $800 per square foot, in Beijing, the price is $2,000 per square foot and in Hong Kong it's double that.Moreover, to control prices, the Chinese government allows each family there to bank finance only two properties — one to live in and one to invest in — and buyers must pay 100 per cent cash for anything above the two-property limit, Ma said.

 

Not only are prices in Canada more affordable, homes and condos are a better value proposition, since they come ready to move into, unlike in China, where buyers get a concrete shell they have to pay to finish, he said."So they see an $8 million house here, they see the quality, they see the finishes and they think it's cheap," Ma said. "They can move in today."

 

Vancouver tops the list with Chinese investors because of the city's temperate climate and proximity to their homeland, he added. Janet Sinclair of Re/Max Hallmark Realty Ltd. in the Beaches neighbourhood of Toronto, routinely deals with foreign investors."They have driven prices up," she said. "Whenever we launch a new condo downtown we get a number of Hong Kong investors and a lot of people coming over from England. People want to put their money in Canadian real estate because they think it's safe."

 


Above article from an email received from 

 

PacWest International Management Inc.
Government and Corporate Consultants
Vancouver-Geneva-New York
Beijing-Shanghai-Guangzhou
25 Years in China

By Referral Only
Since 1985


Country Research
Hotel Development
Business Valuation
Executive Recruitment
Economic Development
Real Estate Consultants
(40 Real Estate Expertise)
Natural Resources & Tourism

 

International Head Office
250-7580 River Road
Richmond, BC Canada V6X 1X6
James McNaught, MBA, President
Direct 604-779-0028
pacwest@consultant.com

 

Senior Associates
Douglas Webster, Construction Management
Esther Catherine Yan Xu,BSC,   Dr.Nancy Rajabian,MSC,PHD,ABMP,
Bill de Mooy,B.Com,  Song Zhou,MA,  Mandy Li,MA,  Brenda Russell,Realtor-Victoria,BC

Read

Vancouver's Hastings-Sunrise to adopt the name 'The East Village'

For Vancouverites who have dreamt of living in the Big Apple's East Village, the east end of Hastings Street may now be the next best thing. The commercial district formerly known as Hastings-Sunrise is adopting the same moniker as the historically hip New York neighbourhood.

 

The East Village is just the latest example of an area being given a new brand reflecting varied commercial interests and changing demographics.

 

--->Read more about this here.

Read

Keeping Up with Demand 

(click the title for the news article)

TheTyee.ca


"It is quite interesting to hear the discussions about affordability. It is actually a very simple issue. There are only two things that influence price -- supply and demand,"

 

Blaming it on foreigners is an embarrassment. The three things we need to do to get control of housing prices are supply, supply, supply."

 

A reader's comment:

 

The only way to get to affordable housing is to put more units on the land which means building upwards= highrises. The cities appeal internationally has moved the affordable break-point past ground level densification.

 

http://thetyee.ca/News/2012/03/19/Vancouver-Housing-Demand/index1.html

Read

I received this by email from a good friend who hadn't tried them but thought worth passing along.


4 Things you might not have known about your Cell Phone

For all the folks with cell phones, this should be printed and kept in your car, purse, and wallet. Good information to have with you.

There are a few things that can be done in times of grave emergencies.
Your mobile phone can actually be a life saver or an emergency tool for survival.

Check out the things that you can do with it:
FIRST (Emergency)
The Emergency Number worldwide for Mobile is 112. If you find yourself out of the coverage area of your mobile network and there is an Emergency, dial 112 and the mobile will search any existing network to establish the emergency number for you, and interestingly, this number 112 can be dialed even if the keypad is locked. Try it out.

Don't Try it Out.  I did and it works.  Trying it ties up their lines for possible real emergencies they explained. 

SECOND (Hidden Battery Power)
Imagine your cell battery is very low. To activate, press the keys *3370#. Your cell phone will restart with this reserve and the instrument will show a 50% increase in battery. This reserve will get charged when you charge your cell phone next time.
 
My battery had a good charge but I will try this.  I have found myself in need for that extra bit of power from time to time.

THIRD (How to disable a STOLEN mobile phone? )
To check your Mobile phone's serial number, key in the following Digits on your phone:
*#06# .
A 15-digit code will appear on the screen. This number is unique to your handset. Write it down and keep it somewhere safe.
If your phone is stolen, you can phone your service provider and give them this code. They will then be able to block your handset so even if the thief changes the SIM card, your phone will be totally useless. You probably won't get your phone back, but at least you know that whoever stole it can't use/sell it either. If everybody does this, there would be no point in people stealing mobile phones.
 
Son of a gun, if a number did appear.  I've recorded mine and now ready to foil a thief.  Some warm comfort.

And Finally....
FOURTH(Free Directory Service for Cells)
Cell phone companies are charging us $1.00 to $1.75 or more for 411 information calls when they don't have to. Most of us do not carry a telephone directory in our vehicle, which makes this situation even more of a problem. When you need to use the 411 information option, simply dial:
(800) FREE411 or (800) 373-3411
without incurring any charge at all. Program this into your cell phone now.
This is sponsored by McDonalds.
 
This did not work when I tried it.  Only in the U.S.A. perhaps.  Maybe if we eat more BigMacs®...
 
I like to share what I learn.  Sometimes I can't help throw in a comment or two.  
 
Bill
Read
Categories:   Abbotsford West, Abbotsford Real Estate | Albion, Maple Ridge Real Estate | Aldergrove Langley, Langley Real Estate | Anvil | assignment | Authorization | BCREA | BCREA Housing Market Update | bill | Bill de Mooy's Listings | Bolivar Heights, North Surrey Real Estate | Boyd Park, Richmond Real Estate | Brentwood Park, Burnaby North Real Estate | Brighouse South, Richmond Real Estate | Brighouse, Richmond Real Estate | Broadmoor, Richmond Real Estate | Brookswood Langley, Langley Real Estate | Bruce McCallum | Building Plans | Burnaby Hospital, Burnaby South Real Estate | Cariboo, Burnaby North Real Estate | Central Pt Coquitlam, Port Coquitlam Real Estate | China | Clayton, Cloverdale Real Estate | Cliff Drive, Tsawwassen Real Estate | Cloverdale BC, Cloverdale Real Estate | cohousing | Community | condominium | CRA | de mooy | Deer Lake, Burnaby South Real Estate | deferment | demooy | Downtown NW, New Westminster Real Estate | Downtown VW, Vancouver West Real Estate | Eagle Ridge CQ, Coquitlam Real Estate | East Cambie, Richmond Real Estate | East Newton, Surrey Real Estate | East Richmond, Richmond Real Estate | Fairview VW, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | Fleetwood Tynehead, Surrey Real Estate | foreign buyer | Forms | Fraser Heights, North Surrey Real Estate | Fraserview NW, New Westminster Real Estate | Galiano Island, Islands-Van. & Gulf Real Estate | GlenBrooke North, New Westminster Real Estate | Glenwood PQ, Port Coquitlam Real Estate | government | Grandview Surrey, South Surrey White Rock Real Estate | Grandview VE, Vancouver East Real Estate | Granville, Richmond Real Estate | Guildford, North Surrey Real Estate | Hamilton RI, Richmond Real Estate | Hamilton, North Vancouver Real Estate | Hastings, Vancouver East Real Estate | Hawthorne, Ladner Real Estate | Highgate, Burnaby South Real Estate | Hockey | HomeConnection - West Coast Trail 2013 | homes for rent | homes for sale | Housing Market Update | Ironwood, Richmond Real Estate | King George Corridor, South Surrey White Rock Real Estate | Knight, Vancouver East Real Estate | ladner | Ladner Elementary, Ladner Real Estate | Laneway Housing | Langley City, Langley Real Estate | Lower Mary Hill, Port Coquitlam Real Estate | Macdonald Realty | McLennan North, Richmond Real Estate | McMath | McNair, Richmond Real Estate | Metrotown, Burnaby South Real Estate | Mount Pleasant VE, Vancouver East Real Estate | N. Delta Real Estate | NDP | New Horizons, Coquitlam Real Estate | Opinion | Park | Parkcrest, Burnaby North Real Estate | Pemberton NV, North Vancouver Real Estate | Playground | pre-sale | presale | property tax | Quay, New Westminster Real Estate | Queen Mary Park Surrey, Surrey Real Estate | Quilchena | Quilchena RI, Richmond Real Estate | real estate | Real Estate Trends | rentals | Richmond | Risk | Riverdale RI, Richmond Real Estate | Sapperton, New Westminster Real Estate | Saunders, Richmond Real Estate | Scottsdale, N. Delta Real Estate | Seafair, Richmond Real Estate | Sechelt District, Sunshine Coast Real Estate | Simon Fraser Hills, Burnaby North Real Estate | Sorrento | South Arm, Richmond Real Estate | South Slope, Burnaby South Real Estate | South Surrey White Rock Real Estate | speculators | Statistics | Steveston | Steveston North, Richmond Real Estate | Steveston South, Richmond Real Estate | Steveston Village, Richmond Real Estate | Steveston Villlage, Richmond Real Estate | Sullivan Heights, Burnaby North Real Estate | Sullivan Station, Surrey Real Estate | Sunnyside Park Surrey, South Surrey White Rock Real Estate | tax | tax deferment | taxes | Terra Nova, Richmond Real Estate | testimonials | The Heights NW, New Westminster Real Estate | Tips and Advice | Transfer tax | Tsawwassen | Uptown NW, New Westminster Real Estate | Vancouver | Victoria | video | Walnut Grove, Langley Real Estate | West Cambie, Richmond Real Estate | West End VW, Vancouver West Real Estate | West Newton, Surrey Real Estate | Westwind, Richmond Real Estate | Whalley, North Surrey Real Estate | What I saw | White Rock, South Surrey White Rock Real Estate | Willoughby Heights, Langley Real Estate | Woodwards, Richmond Real Estate
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.