Foreign buyers to Calgary next?

[1RaZoR1]

With Vancouver and now Toronto imposing the foreign buyer tax do you feel Calgarys housing market will be next to soar in Canada?

[Power_Of_Rotary]

Not likely. Vancouver and Toronto gave some level of "value" to foreigners. Calgary has very little prospect given the economy is based on O&G.

Also foreign investors have other options outside of Canada. When canada gov treats foreign investors poorly, they can easily invest elsewhere. Tax will apply to calgary or any other city that foreign investors invest in eventually.

[Sugarphreak]

...

[max_boost]

I don't know about soar but if condo prices can even get back to where they were a couple years ago I would be satisfied.

[ZenOps]

As soon as there is a significant west coast earthquake, Yes.

[Hallowed_point]

Look out water fountains of Calgary.

[Rocket1k78]

I would be beyond happy with even a fraction of that foreign frenzy but i agree we dont have much to offer like Van and TO.

[G-ZUS]

It's starting to happen, one of my friends whos a realtor has been getting quite a few clients from china lately

[flipstah]

Originally posted by Hallowed_point
Look out water fountains of Calgary.

We have water fountains?

[msommers]

Originally posted by max_boost
I don't know about soar but if condo prices can even get back to where they were a couple years ago I would be satisfied.

x2

[lasimmon]

I am waiting for the market to crash. Doubt it ever will though.

[1RaZoR1]

Can any realtors from beyond chime in?

[rage2]

The Chinese demand data is pretty public.

https://list.juwai.com/

Latest data from Feb 2017:

https://list.juwai.com/news/2017/02/...picks-for-2016

Broken down by country, and by city. Montreal is still ahead of us, but we've jumped to 4th place in terms of demand, my guess thanks to direct flights from China.

[Hallowed_point]

Originally posted by flipstah
We have water fountains?

Lol..oops probably a good thing then.

[tehwegz]

Montreal would be 3rd after Van/TO but French being main language, culture, xenophobia etc. would steer a lot away.

Calgary definitely 4th...but also xenophobia, oil/gas industry based as was said, it's too "in-land" so not as attractive, ... "cowboy stampede hockey oil country" culture also not attractive to them, shame on us for not being more accommodating and culturally enriched/diverse, but if they come in enough numbers I suppose they can take over / settle in nicely. lol

There's a lot of speculation about Victoria, BC blowing up for sure. I can see that if it hasn't already. *Hint-hint* for any "rich foreign investors".

[muse017]

Definitely some activities around Canmore area as I was approached by a couple realtors with their so called "cash buyers".

[killramos]

Why buy houses when you can buy oil companies.

[Buster]

Originally posted by Hallowed_point
Look out water fountains of Calgary.

wtf is going on here?

[suntan]

Apparently they're buying office towers. Ford Tower was sold to some Chinese corporation, will promptly fill it with 500,000 Chinese.

[phreezee]

Originally posted by killramos
Why buy houses when you can buy oil companies.

Because Nexen is worth half of its purchase price now.