Metro Vancouver remains a destination of choice for foreign buyers of luxury homes; marketing specialists say COVID-19 is driving its call to “safe” paradises.
Juwai, a global real estate publication with 3. 3 million basically Chinese clients, highlights a mega mansion in Vancouver in its copper promotion of “maximum eight homes for foreign buyers. “
The palatial house, on the cliffs near the University of British Columbia, is on the market for $43 million. Hidden in a gate at 4743 Belmont, the great assets have every luxuries imaginable, adding 12,000 tulips for spring. The company classifies Vancouver’s castle house as the fourth most expensive asset on the planet.
Metro’s highly fragmented real estate market is spreading the pandemic in several directions: many local buyers seem to be seizing single-family homes valued at less than $2 million in the suburbs, while those who have invested in condominiums downtown suddenly push to sell them.
Wealthy transnational migrants seem to be doing something else again, at least according to global real estate marketers. Companies that specialize in making an investment for the rich, whom they call other rich people, advertise Vancouver and Toronto as highly desirable. relatively solid and safe coronavirus-induced disorders.
“In the midst of the COVID-19 pandemic, many others consider the concept of a house at the moment or citizenship attractive,” says Henley and Partners, a global investment asset search company, as well as visa and passport opportunities, for the world. Flock.
“As coverage shown to be opposed to volatility, obtaining a home or citizenship of choice through asset acquisition is one of the safest, smartest and most sustainable maximum investments you can make right now,” said Juerg Steffen, CEO of Henley, this summer. It argues that its customers are from countries with quality health care and resilience to COVID-19.
Knight Frank, another global real estate company, also has wealthy clients, particularly in non-Western countries such as China, India and around the Persian Gulf, where industrialization has led to an immediate increase in the number of billionaires. 34% of its customers need to move to another country.
However, while foreign real estate corporations serving wealthy clients are optimistic, this year’s knowledge does not recommend a large influx of foreign investors into the Greater Vancouver area. The values of luxury homes in the region declined in the two years prior to COVID-19. And it turns out that successful buyers are only gradually opting for homes in the city, looking for discounts imaginable on the COVID-19.
However, the welcome from Canada, which last year welcomed 370,000 immigrants and 642,000 foreign students, grants 10-year guest visas and many provinces market the so-called gold passports for “investors”, remains the most sensible of the wish list for the good of the world. –
Although wealthy buyers come to Canada from Iran, Brazil, Saudi Arabia, the United States, India, and Pakistan, those of China’s economic strength are at the forefront, partly because they are attracted to the way one in five Metro citizens is of Chinese origin. Offspring.
“Where do the Chinese look in the world?” Ask Juwai.
Canada is the fifth most popular country among high-level real estate investors in the world’s most populous nation. The only countries ahead of Canada are close neighbors of China, Thailand, Australia and Japan, as well as the United States.
The Hurun report, which also tracks the true real estate needs of wealthy Chinese, indicates that among midsize cities, Metro Vancouver is the seventh “most sought-after investment destination in the world for the rich. “He’s ahead of Los Angeles and San Francisco.
“What kind of houses attract foreign buyers of luxury homes because of a pandemic?”
This is the name of a recent article about Juwai, which offers a review of what other concerned people want.
“As the world witnesses the uninterrupted speed of virtual life, climate change, expanding chronic diseases, an ageing population, and a coronavirus epidemic, wealthy cross-border buyers are increasingly looking for homes that don’t just help them stay. welfare assistance at an optimal level,” explains the article
Because of the pandemic, he says, wealthy foreigners, especially “Chinese millennial millionaires,” “seek peace of mind in many ways. As a result, they are for larger, more remote homes and closed to human congestion. “
The need to “add something else to their status” by seinging apartments around the world that have much more than “the ubiquitous pool and gym,” Juwai says. They buy “larger gated properties” including “detox saunas, personal yoga studios, water purification systems” and “high-end security”.
Canada, and componenticular British Columbia, appear to be the top applicants for other wealthy people in need of landing, in part because the country and province have dominated COVID-19.
Canada ranked 12th out of 30 countries chosen for their “economic, social and fitness stability” in this era of COVID-19, according to the Deep Knowledge Group. This puts us behind Germany and Singapore more smoothly, but ahead of Taiwan and Hong Kong.
A publication called Mansion Global offers many expensive housing features on the Lower Continent, i. e. in West Vancouver and West Vancouver, for other wealthy people seeking refuge physically and economically in the pandemic storm.
In addition to Belmont Estate overlooking English Bay, Mansion Global presents a Shaughnessy House for $21 million, a Southlands for $15 million and a condominium in the center of $12 million.
In addition, wealthy Americans seek to take advantage of the merit of the pandemic to achieve a “COVID reduction” in the global housing market, Says Henley and Partners.
The other rich people in the world for bargains are “for symptoms of distress” among asset traders who, possibly unlike them, have been financially hit by the pandemic.
A true real estate marvel is also presented in the store for those who believe that Asian investment in genuine Canadian properties can be discouraged through the increasingly tense quotes between that country and Chinese leader Xi Jinping, i. e. by imprisoned Canadians Michael Spavor and Michael Kovrig.
If Australia is a guide, it is not. Distrustful Australian politicians are much more competitive with Chinese autocratic leaders than our government in Ottawa. But the genuine cross-border real estate sector suggests that this is not a challenge for many rich Chinese citizens than I need a safer place.
In August, Juwai published an article under this headline: “Wealthy Asian investors in genuine real estate decided to buy Australian real estate despite COVID-19 restrictions and strained China-Australia relations.
dtodd@postmedia. com
Twitter. com/@douglastodd
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