During the First Canadian conference of the Asian Real Estate Association of America which was held here in Vancouver, a Chinese-American agents from Chicago and other state agents have gathered here for a few days and talked about the latest "luxury-home tour".
The trend now is "contemporary". Second generation Chinese are the driving force behind luxury homes nowadays, since the federal investor program that allowed immigration with an $800,000-plus investment ended in 2010, the new buying class is market-savvy, with the taste for contemporary design. They are the main reason that Vancouver's overall housing market are recovering much faster.
It will be recall that in the 1980's wave of Hong Kong Buyers, whose raised on the British colonial tradition, would have gone for Tudor style mansions, but this new trend of Asian investor have a different taste. According to Ming Pao Chinese newspaper, this 2nd generation Chinese group is feeding 70-percent jump in sales of homes over $4-million in Greater Vancouver (according to Sotheby's Realty Report), they have already established themselves here.
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