Hong Kong protests may influence housing prices in Vancouver
Posted June 14, 2019 1:32 pm.
VANCOUVER (NEWS 1130) – There may be an increase in Vancouver’s housing demand if people in Hong Kong decide to move here over a proposed extradition law.
Tom Davidoff, a real estate economist from UBC, says those who choose to move from overseas are likely to have the financial means to do so.
“Should some of the Canadians return, naturally some of them would come to Vancouver,” says Davidoff. “I imagine it’s a fairly affluent group of Canadians and so that’s certainly could be a bit of a upward force in housing prices here.”
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But Davidoff isn’t sure if the mass protests in Hong Kong are enough to cause a significant amount of migration.
“It hasn’t happened in huge numbers yet,” he says. “You’d think eventually it could, but I don’t know that the extradition protests we’ve seen are going to be enough to lead to moves that haven’t happened yet.”
He says that with the protests still ongoing, much can change and cautions that could influence the proposed extradition law and how people react to it.
