Vancouver Sun With Chinese officials floating the idea of removing the existing $50,000-a-year limit on how much Chinese currency an individual can take out of the country each year, Yang is looking forward to this having “some positive effect on the real estate market (here).” By Joanne Lee-Young
'“In the past, people who are capable have had to strive and find ways
to wire money in legal ways — $50,000 is nothing if you want to buy
real estate in Vancouver.”
'Yang was born and grew up in the
northeastern Chinese city of Harbin before moving to Vancouver 20 years
ago and studying criminology at Simon Fraser University. Six months ago
she closed one of her larger recent sales, a 9,000-square-foot,
six-bedroom house in Shaughnessy that went for $14.35 million. Most of
the properties she sells are in the $2-million to $5-million range.
on my business, and the way I see it, is that (with the $50,000
restriction removed) buyers can be more relaxed about (planning) their
purchases and do more. The market will be even more active.”'