Four panelists discussed what’s driving the cost of real estate at a panel organized by UBC’s Centre for Urban Economics and Real Estate and the Centre for Chinese Research, reports CBC News.
UBC geography professor David Ley said Chinese buyers are motivated by a desire to evade anti-corruption campaigns, and live in a healthier climate. UBC business professor Tsur Somerville said the housing crunch isn’t just due to capital from China; around the world, large numbers of people are moving into cities, for their amenities.
A similar article appeared on Yahoo.
