Are Hong Kong Residents Moving to Vancouver & buying real estate?
The main reason why Hong Kong residents are moving to Vancouver to buy homes and live is because the Chinese government has been cracking down on all the demonstrations. So Hong Kong residents have been forced to take extreme measures to be able to continue their normal lives.
This has led to Hong Kongers to look for better opportunities and to leave “The Mainland” for “the Lower Mainland” Canadian part of the world (mainly, Vancouver, British Columbia). But this is not the end of the story. One of the main reasons why Hong Kongers is choosing to move to Canada is due to better political and economic climate.
Another reason why Hong Kongers is opting to move to Canada is because of the fresh air and environment. When you are living in a large city like Hong Kong, you never get to experience the true nature of living in a wilderness. In Hong Kong, there is a lot of pollution and smog.
One last deeming reason why Hong Kongers is leaving Hong Kong is because the economic policies of the Chinese government have been guided by their nationalist goals.
The point is that Canada attracts a lot of people from Hong Kong. Not all of them, but a significant number of them choose to come to Vancouver because they can afford to do so. They also chose Vancouver because of the quality of life it offers. Many Hong Kong citizens want to live in a beautiful country where they are treated fairly and where they feel free to live their lives without political and economic interference.
Hongkongers are buying more homes in British Columbia after protests
There is no question that Hong Kong residents are buying real estate in Vancouver in more numbers after the protests. The figures indicate this clearly, with the number of Chinese buyers up even while the number of homes sold is down in 2019.
According to experts, some of this increase in Chinese real estate buying in Vancouver is due to the protests in Hong Kong.
“The number of people from mainland China is increasing, particularly Vancouver,” said Frank Zhang, an investor and real estate agent based in Vancouver. He believes this is the result of more Chinese tourists and expatriates investing in Vancouver real estate.
China has been taking a higher share of the world’s residential market, so much so that most economists believe they will soon be a major player in the world’s real estate market.
Of course, there is much controversy about this, because some analysts believe that they create unaffordable-city issues.
Hong Kong is only buying in Vancouver now because they are getting a strong sense that home is no longer politically stable as it once was, and more wealthy Chinese are buying houses in Metro Vancouver Canada.
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