Demand Apartments: Chinese and Week

demand apartments: Sure as the rain, a flood of Chinese buying occurs in Vancouver during Golden Week each fall as flocks of investors and immigrants come to see real estate. ; But, this year, Golden Week lost some of its sheen as a combination of Chinese capital controls and unsettled sentiment in the Lower Mainland softened high-end demand, according to National Observer. Apartments are still good, but the high-end houses have slowed down, said Na An, an agent at Royal Pacific Realty. Chinese families often celebrate the week long national day holiday by visiting family or going on vacation. Newly-released data show that even if luxury buyers and investors are thinking twice, the Lower Mainland market continues to surge. The foreign buyers' tax slowed the market down, sure, but it didn't crash it. Sentiment amongst realtors is that market-cooling policies, like the foreign buyers' tax and more stringent mortgage stress testing rules, have made an impact on luxury single-family homes. (www.immigrantscanada.com). As reported in the news.