![]() ![]() where you are looking for a hedge against political, economic, social insecurity, and I think, increasingly, climate change," he says. "It's actually the desire for safe haven. ![]() Owning property is deeply rooted in Chinese culture, she says, but the government in Beijing doesn't allow people to own the land their homes are built on. "You know, people really want to own something because that's where their security comes from," she says. The 27-year-old says she loves the city, just received her permanent residency card and bought a two-bedroom condo downtown. Marianne Wu first came from China to Vancouver as a student seven years ago and now works in marketing and translating. The result has been a real estate market now out of reach for many residents, something that is straining the city's reputation for welcoming newcomers. Wealthy Asian immigrants and investors also started buying up businesses and property in the city. Ng says the supercar market in Vancouver started to really take off around 2010, when China's economy was red-hot. "There is a large amount of Asian, including mainland China, Taiwan, Hong Kong, East India, Singapore. Ng says there's a big market in Vancouver. The most expensive runs about CA$1 million ($740,587) - the Vancouver showroom sold six last year. ![]() That's for one of the cheaper models in this showroom. Wilson Ng, an account manager with McLaren Automotive, gently runs his hand over one of the 570GT models. Within a few short blocks, you can find dealerships for some of the world's most expensive cars: Lamborghini, Ferrari, Rolls-Royce and Aston Martin, among others.Īt the front of the McLaren showroom are four sleek, high-performance sports cars, known as supercars. There is also an unabashed display of wealth, readily apparent in the city's Kitsilano neighborhood. The skyline has the same ribbon of gleaming apartment towers hugging the waterfront, and similar mountains in the distance. When you cross over the Granville Street Bridge that winds into downtown Vancouver, you'd be forgiven for thinking you're in Hong Kong. The Granville Street Bridge leads to downtown Vancouver, whose skyline of gleaming apartment towers hugging the waterfront is reminiscent of Hong Kong. ![]()
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