Archived posting to the Leica Users Group, 2015/03/01
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]And London. Full of Chinese and Russian wealthy people enjoying a liberal democracy. The UK positively encourages foreign investment, very many ?british? companies are foreign owned so it isn?t just the property. > On 1 Mar, 2015, at 04:35, John McMaster <john at mcmaster.co.nz> wrote: > > Similar to NZ, particularly Auckland :-( > > john > > -----Original Message----- > From: H&ECummer > > Hi Richard, > Yes indeed Vancouver has the most expensive real estate on the planet > followed by Hong Kong, according to a recent international survey. > And, as you note, the common factor in this pricing is Mainland money. > Once it gets into a Hong Kong bank - don't ask how it gets from China to > Hong Kong - then it is an easy transfer to Canada to buy property which is > now 20% cheaper than last year due to the fall in the C$. Canada has no > restrictions on foreign ownership - unlike Hong Kong which charges a 15% > transfer tax to buyers who are not permanent residents of the SAR (Special > Administrative Region). The result is fewer and fewer Vancouver residents > can afford to buy houses - given that their incomes have not kept pace > with the rise in housing prices. My apartment in Vancouver, for example, > has doubled in price since I bought it in 2005. So those of us already in > the market are not hurting - but others, like my daughter, face the > prospect of being out of the market for a long time - if not forever. > Howard > > Date: Fri, 27 Feb 2015 19:35:04 -0800 > From: Richard Man <richard at richardmanphoto.com> > To: Leica Users Group <lug at leica-users.org> > Subject: Re: [Leica] Hong Kong pictures > > According to one study, Vancouver is the MOST expensive city, even topping > HK, Tokyo, New York etc. The Mainlanders are moving their money out before > their government can take it away :-) > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information