info@coldbrook.ca

450-242-1166450-538-0123

Blog

The effect of Chinese buyers on the real estate market in Quebec

The effect of Chinese buyers on the real estate market in Quebec

I am not sure that many of you are aware of this but in an article published on August 2, 2016, by the Quebec Federation of Real Estate Boards (available via Centris.ca) according to CMHC only 1.3% of buyers are foreigners and half of them are from the United States and France. They go further in their analysis to claim that most purchases are concentrated in downtown Montreal where they only account for 4.3% of all transactions. The effect of Chinese buyers, as they say, should be taken with a “grain of salt”. This combined with the regulations concerning the acquisition of agriculturally zoned property by non-residents under Law 90 (CPTAQ) make it near impossible for foreign buyers to purchase property exceeding 10 acres in the green zone.
So much for having your property exposed in “international” markets. Well-known “international” franchised real estate agencies use this in their marketing all the time, unfortunately, the facts do not bear the reality of today’s real estate market. 90+% of all buyers are found within the province.

So now you know.