In Vancouver, recently introduced a 15 percent tax on the purchase of real estate to foreigners - at AMarkets materials.
Favorite Chinese offshore investment and direction simply ceased to exist. For 7 weeks before the introduction of the tax, foreigners have purchased property in Vancouver, the total amount to 2.3 billion Canadian dollars. Within 4 weeks after the introduction of the tax transaction volume was only 50 million. Real estate prices in Vancouver have collapsed by 17%.
Meanwhile, the Chinese capital rushed in other Canadian cities, especially in Toronto, in the search for sites for shopping. In July and August the price of real estate in that city jumped by 83%! Most likely go the way of Toronto and Vancouver, a similar tax is introduced. Hot Chinese money then go to the other Canadian, American and European cities - in fact it is necessary to do something with $ 30 trillion of deposits accumulated in Chinese banks as a result of ultrasoft monetary policy Chinese Central Bank. Interesting question - will affect whether the fever Russian cities?
