It’s all a question of mathematics and global economies. China and India lead the world in growth and their growing middle classes are each the size of the population of Canada and the United States combined.
Asia Pacific is now and will continue to be the leading player in the world and will continue to extend into our markets and community in the Greater Toronto Area. Parents realizing this change will push the second language as Mandarin and it may become the second language in non-Asian homes supplanting French.
We are still in the foothills of Asian investment in Canada. Property rights as we know them in Canada do not exist in most countries and in China, the land is leasehold to the government for 70 years. There are also restrictions on home ownership…If you live and work outside of a centre like Beijing or Shanghai, you need government’s approval to move to those cities.Asia Pacific is now and will continue to be the leading player in the world and will continue to extend into our markets and community in the Greater Toronto Area.Click To Tweet
The ultra-wealthy have money and property all over the world and they are looking for security, health care, education and relatively clean air. They are very family oriented and will buy legacy properties for their children and parents. They are very pragmatic in purchasing, not driven by architecture as much as a community with proximity good schools, universities and hospitals. Community gardens and parks are also seen as having great benefit.
As you have probably heard the Chinese government has tightened restrictions ($50,000 per family member per year) but the growth there is so large, that companies and “High Net Worth Individuals” (HNWI) are looking overseas for Investment. As long as Canada is the clean, safe location for foreign investment, we will continue to be in the top five destinations for foreign consumers. Just as it did decades ago and will in decades to come, the face of our neighbourhoods will be changing.