{"id":10535,"date":"2016-09-07T20:47:08","date_gmt":"2016-09-07T20:47:08","guid":{"rendered":"https:\/\/immigrationca.staging.wpengine.com\/fr\/?p=10535"},"modified":"2016-09-07T20:47:08","modified_gmt":"2016-09-07T20:47:08","slug":"chinese-investors-inject-140m-montreal-condo-market-since-2015","status":"publish","type":"post","link":"https:\/\/immigration.ca\/fr\/chinese-investors-inject-140m-montreal-condo-market-since-2015\/","title":{"rendered":"Chinese Investors Inject $140m Into Montreal Condo Market Since 2015"},"content":{"rendered":"

Montreal is facing an unprecedented period of economic growth fuelled by investment from China.<\/p>\n

The city appears to be the new favourite for Chinese property magnates, who have snapped up real estate worth $140 million since 2015.<\/p>\n

\"Chinese<\/p>\n

Such investment raises fears of a Vancouver-style price boom, although to date the transactions have only sustained a market that would otherwise be shrinking.<\/p>\n

Now real estate companies are targeting the new market by holding presale events for \u2018Asian purchasers\u2019, and even chartering buses to bring them in from Ontario.<\/p>\n

Many of the transactions are being done with cash up front, cutting out the need for a mortgage.<\/p>\n

William Malkinson, a Montreal notary involved in the real estate community, says clients looking to get money out of the country are helped by contacts within the Chinese government.<\/p>\n

For economic and long-term developmental purposes, China enforces strict controls over capital outflow.<\/p>\n

The measures do not make everyone happy in a country where standard of living is not yet comparable to developed countries.<\/p>\n

Despite the restrictions, Chinese investments abound and they are massive.<\/p>\n

US bank JP Morgan values outflows of capital from China at $450 billion per year.<\/p>\n

Moreover, the Bank of China and the Hurun Report asserted in 2011 that 60 per cent of people with personal assets over $1.5 million in China want to leave the country.<\/p>\n

The Chinese effect<\/strong><\/p>\n

\n\n\n\n\n\n\n\n\n
Projects<\/strong><\/td>\nAddresses<\/strong><\/td>\nSales made to Chinese nationals in relation to Total sales<\/strong><\/td>\nValue of investment<\/strong><\/td>\n<\/tr>\n
XACT Condos<\/strong><\/td>\n1390, du Fort<\/td>\n51 in 89 (57%)<\/td>\n16,53 M$<\/td>\n<\/tr>\n
DOUZE05<\/strong><\/td>\n1205, Mackay<\/td>\n82 in 95 (86%)<\/td>\n21,6 M$<\/td>\n<\/tr>\n
La Tour des Canadiens I & II<\/strong><\/td>\nCentre Bell<\/td>\n(roughly 25%)<\/td>\nUnknown<\/td>\n<\/tr>\n
CENTRACONDOS<\/strong><\/td>\n1181, Bishop<\/td>\n44 in 55 (80%)<\/td>\n13,6 M$<\/td>\n<\/tr>\n
Bois des Caryers<\/strong><\/td>\nArrondissement LaSalle<\/td>\n117 in 197 (60%)<\/td>\n55,1 M$<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

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