Reuters reports that disgruntled Chinese millionaires – whose hopes to migrate to Canada were dashed when the Canadian government abolished the extremely popular immigrant investor programme – have banded together and are now in the process of preparing a lawsuit againt Ottawa (7 August 2014). Represented by immigration lawyers Timothy Leahy and Rocco Galati, the outcome of a successful lawsuit could lead to the resurrection of over thousands of Chinese applications. Vancouver has long reigned as the top choice for Chinese immigrants, and many have pointed fingers at Chinese for skyrocketing housing prices there. While many girded themselves for a possible crash for Vancouver's luxury residential market, Chinese appetite for Canadian real estate remains strong. According to Andrew Taylor, Juwai.com Co-CEO, Canada remains on the list as one of the 5 most preferred destinations for Chinese buyers. "We have not seen any measurable impact on Chinese demand for property in Canada as a result of the ending of the investment visa program. The music will keep playing as long as Canada is willing and China is wealthy," says Taylor.
