HONG KONG | Office

2020:  

China Banks expand presence in Hong Kong

Mainland Chinese companies occupy 12 per cent of the total prime office space in the city

A Precarious Time

Foreign Firms Give Up Space

https://www.scmp.com/business/companies/article/3088487/hong-kongs-office-market-hollowing-out-vacancy-rate-hits-10-year

https://www.bloomberg.com/news/articles/2020-06-11/alibaba-tiktok-owner-expand-in-hong-kong-as-banks-pull-back

CANADA

Population:

https://www150.statcan.gc.ca/n1/pub/71-607-x/71-607-x2018005-eng.htm

2023 Ownership:

US vs Canada :  Construction Cost outlook by JLL

Majority of condo investors in Toronto and Vancouver - from 8 yrs ago - are long term investors [i.e. >5 yrs]
🖥: CMHC 
https://eppdscrmssa01.blob.core.windows.net/cmhcprodcontainer/sf/project/archive/housing_markets/condominiumownersreporttorontoandvancouver/68161_2014_a01.pdf

Foreign Buyer Ban
Unintended Consequences?

https://biv.com/article/2023/02/developers-partial-foreign-ownership-blocked-building-housing-supply-canada

https://www.theglobeandmail.com/business/article-ban-on-foreign-homebuyers-hits-commercial-real-estate-deals/

“It’s irrelevant who builds it — the issue is we want homes for Canadians,” he said. “So if we limit capital and we build less there’s less homes for Canadians.”

https://www.bloomberg.com/news/articles/2023-02-10/builders-say-canada-s-foreign-buyers-ban-is-stopping-construction-of-new-homes?sref=b6L8VQ8T

Federal Government Proposes

Foreign Owner Tax

https://www.bloomberg.com/news/articles/2021-04-19/soaring-canadian-housing-costs-targeted-with-foreign-owners-tax

Overview

 

This excerpt from Ben Meyers  2020 April  27


Municipal Taxes highest in Montreal, Halifax and St. Johns
-- C.D. Howe Institute

Hong Kongers in Canada

https://www.reuters.com/article/us-hongkong-security-emigration-idUSKBN2AA003