"Vancouver’s slow-churning real estate market might see a slight uptick next week due to an influx of Chinese New Year vacationers.
The Chinese national holiday – celebrated widely in Vancouver and around the globe – begins Friday night with a week-long holiday. Many take the time off as an opportunity to travel abroad. Last year, six million Chinese left the country for vacation.
Juwai.com, a China-based website for international real estate, says a quarter of Chinese consumers surveyed plan to travel internationally during Chinese New Year, with 42 per cent of those saying they plan to shop for property while away. In total, just under 11 per cent of all people surveyed said they’ll spend the holiday property hunting.
The website also surveyed 163 realtors in Canada and found 17 per cent of international agents and 16 per cent of Canadian agents had been contacted by buyers who plan to visit during Chinese New Year.
“We also see Vancouver getting a steady stream of Chinese visitors seeking a ‘lung cleansing’ holiday,” Charles Pittar, CEO of Juwai.com, said. “Canada is a top-five country for these trips. Other top lung-cleansing spots are Japan, Thailand, Australia and Switzerland. One-half billion Chinese were affected by hazardous smog this winter. They come to Vancouver for clean air, among other things.”
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