Chinese buyers aren't quitting Canadian homes any time soon

by Ephraim Vecina07 Mar 2018

Latest data from international property listing portal showed that in 2017, Canada continued to be a favoured property investment destination for Chinese home buyers despite higher foreign buyer taxes in B.C. and Ontario.

In the first half of 2017, Chinese buyer interest in Canadian real estate grew 30% year-over-year.

“While some Chinese buyers gravitated towards the U.S. — especially nearby Seattle — Chinese demand for Canada held steady over the past 12 months, likely thanks to its top-notch education and lifestyle appeal,” the Juwai report stated.

According to the same Juwai data, Canada was the third most-viewed country for Chinese investors buying foreign properties, after the U.S. and Australia.

Read more: Agent slams B.C. Green Party proposal

By metropolitan market, Toronto had the most views in Juwai’s catalogue in 2017, defying expectations that the introduction of a 15% non-resident speculation in the Greater Golden Horseshoe region will lead to lower Chinese interest.

Vancouver was the second-most viewed, followed by Montreal and Calgary.

And despite the spectre of further interest rate hikes along with a new national mortgage stress test that came into effect on January 1, Juwai noted that overseas investors are expected to continue gravitating towards Canadian real estate.

“After all, with home prices predicted to cool significantly this year due to this combo of stricter mortgage rules and raised interest rates, aspiring homebuyers who have been sitting on the sidelines could possibly be tempted to get back into the fray, including the Chinese,” the report explained.

Related stories:

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?