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Real estate prices in Vancouver, Canada worrying some

February 2014, 13
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According to a report published in a Hong Kong-based newspaper, the ‘investor immigrant’ program of the Canadian government has indirectly led to a huge surge in real estate prices in the city of Vancouver, in the province of British Columbia, Canada. The surge in the prices is so high that the report avers that it could affect the younger couples and families who are just starting out in their careers and could also lead to some kind of a housing shortfall.

Real estate prices in Vancouver, Canada
The study behind the newspaper report was conducted by a dual team of a Canadian lawyer-researcher and a young journalist-reporter with roots in Hong Kong. The report points out that the number of wealthy Chinese applying for immigration through the ‘investor program’ was so high that it outnumbered the investor programs combined of all the other English-speaking countries. The report thus discloses not only the very high number of wealthy mainland Chinese seeking to immigrate to Canada but to British Columbia proper, and specifically to Vancouver in particular.

But, all in all, the federal government of Canada, the news report states has pledged to continue with the processing of the wealthy mainland Chinese who have applied and have pledged the money required by the immigration program as investment. The news report has also highlighted the comparative numbers and statistics with respect to other investor citizens of other nationalities. Thus, it states, that while Chinese applications in the investor program number 57,308, the US has 6,517 investor applicants, the UK, 594 investor applicants and Australia, 545 investor applicants.

And, as is of course known and acknowledged, many/most ‘advanced countries’ too, apart from Canada have a variety of different immigrant programs including the ‘investor immigrant program’.

Here are couple of links on Canada Immigration that you may be interested in Changes in New Canadian Visa Fees and Renewal of federal Skilled Worker Program 2014.

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