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

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek4 min readPolitics
The Incredible Sinking Argentina
Over the last 70 years, Argentina has endured hyperinflation, government collapse, and the world’s largest sovereign debt default. It’s spent a third of that time in recession, a record that almost deserves its own chapter in economic textbooks. And
Bloomberg Businessweek2 min readPolitics
What Is Boris Doing?
Whether the U.K. prime minister is pursuing negotiations or an electoral advantage, he’s headed for disaster
Bloomberg Businessweek3 min readFood & Wine
Craft Beer for Nondrinkers
Just before noon at the O’Fallon Brewery O’Bar in Maryland Heights, Mo., the pub begins to fill with workers from nearby office parks. Scattered among the usual burgers and build-your-own flatbreads are more than a few pints of beer. This is a brewer