The faltering Canada/China Tourism agreement that will give Canada approved destination status for Chinese tourists will have a vast impact on Vancouver's real estate market.
With the worlds largest population and an economy growing at a blistering pace, China is quickly developing a an entire demographic of people with the means to invest in overseas property. The experience of the 1980's with people from Hong Kong moving here to hedge their bets over the 1997 Chinese take over of Hong Kong will be small potatoes compared to what is coming.
I was a Cascadia Forum talk given by Harmony Airways CEO Gary Collins and he said the biggest obstacle to an agreement was the Canadian government rather than the Chinese.
I have seen a small example of this with the growing numbers of Korean investors buying on Marinaside Crescent. This was caused after the Korean government imposed a series of tough antispeculation measures to curb rising housing prices in the Korean real estate market. But investment on this scale would have been impossible had there not been an easing of visa restrictioons on South Koreans in Canada during the 90's, much like what is proposed between Canada and China.
When this Canada/China deal goes through we will feel it in the Downtown property market.
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