Bloomberg Businessweek

Chinese Buyers Move On From Vancouver

A tax on foreign investors makes Seattle and Toronto look better | “Chinese money isn’t going to sit and wait”

Just a few days after British Columbia announced a 15 percent tax on foreigners buying property in the Vancouver area, Seattle real estate broker Lili Shang received a WeChat message from a wealthy Chinese businessman who wanted to sell a home in Canada and buy one in her area. After a week of looking, he purchased a $1 million property in Bellevue, across Lake Washington from Seattle. He

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