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China's latest export: home buyers
By Juwai, 14 July 2012
Half a world away, a handful of Chinese citizens are feverishly planning a Canadian real-estate shopping excursion. Steve Ladurantaye reports for The Globe and Mail.
July 13, 2010
-- Half a world away, a handful of Chinese citizens are feverishly planning a Canadian real-estate shopping excursion.
A farmer, an engineer, a furniture maker and a caterer are among the 30 hopeful investors who have paid $5,500 each to take a real estate tour of Toronto and Vancouver in August. This isn’t about tourism: Each of them expect to drop at least a half-million dollars on downtown condos during their 10-day visit.
While Chinese investors in Canada are nothing new, this delegation is thought by those in the industry to be one of the largest to travel in one group. The trip was put together by Ricky Zhang of TransAsia Investment Partners, a Chinese company that was created to help residents buy properties abroad, particularly in Canada.