Cash-rich Chinese opt for Seattle, Toronto homes after Vancouver slaps 15% housing tax

Toronto

JUST a few days after Vancouver announced a tax on foreign property investors, 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 in her area.

After a week of showings, he purchased a US$1 million property in Bellevue, across Lake Washington from Seattle. He soon returned to buy two more, including a US$2.2 million house in Clyde Hill, paid for with a single cashier's cheque.