Calgary has become a bit of hot property for Chinese buyers these days as they have started to inquire about open real estate in the city. Figures on the Juwai.com website revealed that that about 50 percent of the population had made inquiries in the city. Juwai CEO Carrie Law has also confirmed this, adding that an increase of 200 percent happened during 2017, but it was all proprietary.
The Calgary Real Estate Board, hoping perhaps to clear things up, said that Chinese investors have yet to create a significant dent into sales statistics. However, the purchase of property by certified buyers from the People's Republic of China was already significant enough for them to add to the statistics being gathered about real estate purchases.
Law, for her part, shared her experience with Juwai. Inquiries, she said, were already included in sales figures around six to nine months. Chinese investments were definitely coming into the Calgary market. Her explanation that the Calgary marketplace does not recognize it as a defining factor--yet--mirrors what was published online by the website.
Law said that the driving force behind Chinese interest in Canada was its reputation. 73 percent of Chinese buyers, who bought houses for their own use, were convinced that Calgary represents all the good things about Canada; it has a quality school system, an international atmosphere, but it hasn't lost its small-town appeal, an important factor in the decision of many Chinese investors to buy properties in the city.
Jessica Chan, a Chinese realtor, shares her experience in looking for land in Calgary. The realtor, who speaks fluent Cantonese, Mandarin, and English, said that about 30 of her current listings were bought by Chinese buyers. Their interest was to look for a home that was near a school or at least in walking distance of one.
Perhaps Paul Lien, who bought a condo unit in the city in 2002, serves as the best example of families from Chine who've decided to uproot and restart in the Canadian city. Lien is managing partner of PCI Executive Search Consultants. His decision to live and work in Beijing was made for the sake of his children, a son and a daughter who have since become citizens of Canada. They live and work in the city as well, with his son the proud owner of three small condo apartments of his own.
