Real Estate

Where are all the RICH IMMIGRANT Buyers with boatloads of cash?

  • Last Updated:
  • Feb 5th, 2018 7:08 pm
[OP]
Penalty Box
User avatar
Aug 11, 2005
4059 posts
1321 upvotes

Where are all the RICH IMMIGRANT Buyers with boatloads of cash?

Just curious, what happened to all these buyers that would flock to buy houses at any price. Prices across gta has dropped 20% and tons of houses are just sitting their unsold. Even developers are lowering Precon prices in subsequent phases.

It should be a great time to buy but it seems like all the smart money has left leaving only bag holders.
google NotDoug
128 replies
Deal Fanatic
Feb 22, 2011
5869 posts
5552 upvotes
Toronto
Lol it's January chill out. Months of inventory is under 3 you can hold off on the panic button.
Banned
Aug 28, 2017
301 posts
362 upvotes
Detached homes in MILTON sold out in 1 day (116 units) at 900K ....effin MILTON!!!! for 900K lol....

Detached homes in RH sold out in 1 day...for $1.9M!!!!

So if you want to know where the rich immigrants are....maybe you should check out new home releases on the weekends....pretty much anywhere in the GTA all the out to Milton. Selling like HOT CAKES in Jan lol...wait until April/May/June

MARKET IS COMING BACK BABY!!!
Deal Addict
Feb 16, 2014
1518 posts
230 upvotes
Hamilton
immigrants bringing corrupt money to Canada. -Someone of them doesn't even end up paying taxes.

I heard this Chinese millionaire bought multiple properties in Canada and claimed $90 in foreign tax. Cheapskates.

This all happened because siblings complained and now they are in court to fight the cases. -Becuase they didn't cake their slice of the cake.
Deal Addict
Sep 30, 2011
1549 posts
288 upvotes
MISSISSAUGA
tester85 wrote:
Jan 30th, 2018 8:34 am
immigrants bringing corrupt money to Canada. -Someone of them doesn't even end up paying taxes.

I heard this Chinese millionaire bought multiple properties in Canada and claimed $90 in foreign tax. Cheapskates.

This all happened because siblings complained and now they are in court to fight the cases. -Becuase they didn't cake their slice of the cake.
I know within first five post, this kind of crap will show up. Come on.
Every first line Chinese city's apartment price is more than a Toronto detach. you are so funny to believe Chinese corrupt money have any taste in Milton, oh my god, no no. LOL
<No political content in signatures>
Sr. Member
Feb 16, 2013
852 posts
770 upvotes
Toronto
Post 3 would indicate they all bought in Milton.
Newbie
Jul 25, 2017
92 posts
46 upvotes
napoleonbot wrote:
Jan 30th, 2018 9:03 am
I know within first five post, this kind of crap will show up. Come on.
Every first line Chinese city's apartment price is more than a Toronto detach. you are so funny to believe Chinese corrupt money have any taste in Milton, oh my god, no no. LOL
Even the second or third line cities, they sell a small apartment in China can buy detach in Toronto, and a lot of them don't even have mortgage in China, it's all owned
Deal Addict
Jul 14, 2002
1954 posts
687 upvotes
ccylyl wrote:
Jan 30th, 2018 10:09 am
Even the second or third line cities, they sell a small apartment in China can buy detach in Toronto
Yes, that is true. But a small condo in the GTA can buy a house in Ohio.
The question is not about wealth and price points. It is about projecting the future of returns, or it is at least for the "investors".
Buying cheap does not always guarantee better returns and more often than not, it doesn't, because there's a reason why it was cheaper in the first place.

If we believe that RE value in canada is primarily driven by "investors" then we cannot dispute that it will also be a rollercoaster ride in value.
Statements of RE is cheap in canada, foreign investors driving up prices does not have a positive correlation to the statement of RE will never correct.
Last edited by dantey on Jan 30th, 2018 10:13 am, edited 3 times in total.
Deal Addict
Dec 23, 2010
1457 posts
738 upvotes
Moon
ccylyl wrote:
Jan 30th, 2018 10:09 am
Even the second or third line cities, they sell a small apartment in China can buy detach in Toronto, and a lot of them don't even have mortgage in China, it's all owned
And why should foreign money be allowed to drive a local necessity in our country? They need to go the way of New Zealand and completely ban foreign ownership not simply tax it. Either that or make the tax 100%
Newbie
Jul 25, 2017
92 posts
46 upvotes
Applesmack wrote:
Jan 30th, 2018 10:15 am
And why should foreign money be allowed to drive a local necessity in our country? They need to go the way of New Zealand and completely ban foreign ownership not simply tax it. Either that or make the tax 100%
I don’t know...my point is just don’t assume all the money from China is corrupted
Deal Addict
Dec 6, 2006
4384 posts
1071 upvotes
Toronto
I'm kind of in the market to move up... hopefully this year. As much as I'd want to dream, I really don't see where that "Prices across gta has dropped 20%" happens in any decent areas. Prices are still holding up as high as late-2016 to early-2017 range. New listings are still coming up at ever higher listing price for most that I looked at. Where the heck are the price drop? Don't tell me it's just comparing to the absolutely craziest peak in that 1 month in 2017... that's meaningless for the time-horizon of buying/owning a RE..
Deal Fanatic
Feb 22, 2011
5869 posts
5552 upvotes
Toronto
boyohboy wrote:
Jan 30th, 2018 10:22 am
I'm kind of in the market to move up... hopefully this year. As much as I'd want to dream, I really don't see where that "Prices across gta has dropped 20%" happens in any decent areas. Prices are still holding up as high as late-2016 to early-2017 range. New listings are still coming up at ever higher listing price for most that I looked at. Where the heck are the price drop? Don't tell me it's just comparing to the absolutely craziest peak in that 1 month in 2017... that's meaningless for the time-horizon of buying/owning a RE..
Yea unless you bought in those 3 months of bidding wars it's average really doesn't help you. At the end of the day the average house is still over a million and condos over half a million. Stats and percentages don't really mean much when you are looking at those purchase prices or ever increasing rents. Unless you are in a purpose built rental the risk of eviction for sale is always there. A lot of people do not want to live in apartments, especially the ones in Toronto. Also if they are in such disrepair now imagine what it will be like with their revenue restricted.
Deal Addict
Jul 14, 2002
1954 posts
687 upvotes
boyohboy wrote:
Jan 30th, 2018 10:22 am
I'm kind of in the market to move up... hopefully this year. As much as I'd want to dream, I really don't see where that "Prices across gta has dropped 20%" happens in any decent areas. Prices are still holding up as high as late-2016 to early-2017 range. New listings are still coming up at ever higher listing price for most that I looked at. Where the heck are the price drop? Don't tell me it's just comparing to the absolutely craziest peak in that 1 month in 2017... that's meaningless for the time-horizon of buying/owning a RE..
It's anyone's best guess. If you don't have to pay much to move up now vs a 20% drop, why wait?
If it is significant and you have time on your side, then you could wait as long as you want.
Deal Addict
Dec 6, 2006
4384 posts
1071 upvotes
Toronto
dantey wrote:
Jan 30th, 2018 10:28 am
It's anyone's best guess. If you don't have to pay much to move up now vs a 20% drop, why wait?
If it is significant and you have time on your side, then you could wait as long as you want.
Not waiting that's for sure, hence saying "hopefully this year". But at the end, finding one that's within budget & preferred area is difficult, to say the least :(
I definitely won't say I could "wait as long as I want" tho. RE price is a slow moving beast, 5, 10 years for the price to drop? How many 5, 10 years period I have in my life, especially when one starts to consider family and kids.


Really and still kinda kicking myself to not straight-up buy bigger the first time. My current property appreciated in price as well but obviously not as much, esp in absolutely dollar value, vs the ones I'm hoping to move up to. And I could have afforded that right from the start too, although would be a bit tight.
I have enough cash to pay off 80% of my current mortgage. Yeah, "just invest the money in stocks" yada yada.... look at the TSX the last couple years while the detached properties I'm looking at went up by $400-500k in 3 years.

Top