It raises the question as to whether wealthy Chinese investors in Canada’s property market could be forced to sell or reduce the pace of their investments here.
Of course, the level and impact of those buyers is not clear, due to the well-documented lack of reliable data and divided opinion; however we know that there are many Chinese owners of Canadian property, so how might the latest stock market crash affect them?
Not much, says Eva Busza, vice-president of research and programs at the Asia Pacific Foundation of Canada.
She told The Province
that those investors who are likely to have money tied up in the Chinese markets are not the same ones who have the level of funds to invest in property here. Additionally, having seen surges in stock values last year, many investors are still sitting on profits.
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China’s stock markets have been plummeting this week over concern that the world’s second largest economy is struggling and that Beijing’s latest support measures may not do enough to turn that around.