Hong Kong’s Situation
Hong Kong unrest is affecting Toronto’s Real Estate market (and Vancouver’s, too). Those who can move money to Canada are doing so, and we expect a rush of HK buyers investing in Toronto and Vancouver.
Canada has long seen as one of the best places in the world to invest. Canada is democratic, stable, and safe. it has great schools and is rich. What else can you ask for? A shorter winter, perhaps!
In this video, I explain why HK residents are flocking to Toronto and Vancouver, and why Toronto’s Real Estate prices are about to go higher as a result
In short, there are billions of dollars seeking safe heaven. Canada is one and Real Estate investing is one for the best ways to preserves your riches. As you know, 90% of all millionaires have made their fortunes investing in Real Estate and that’s all they know and seek.
Imagine 500 condos purchased in Toronto, in a short amount of time. How will that affect our local Real Estate market?
The Effect on Toronto’s Real Estate Market
That’s easy to calculate:
On average, 8,000 to 10,000 properties are sold within the TREB area each month, to a total of about 100,000. Add to that approx. 1,000 to 1,500 of new condos purchased per month and you get an average of about 10,000 units per month. If I remove 500 units off the market (foreign investors purchased) I effectively removed 500/10,000 or 5% of the market. What would that do to prices?
You got that right. Prices will go UP. Demand suddenly increases by 5% and you can imagine rich stressed people will lean towards paying the highest price in order to preserve their wealth.
Advice for Toronto Investors
So, if you are a Toronto investor, you better get your act together and beat the rush, get your investments cheaper now vs. much more expensive in a few months (or less).
If you are in investor from Hong Kong, contact me and I will guide you through the best investments available, the financing process and the legals. We provide “VIP White Glove Service” to all investors.
You will be happy you contacted us!
Live long and prosper,
Yossi Kaplan, MBA