29 Jul '16, 1am

Vancouver Real Estate Tax Hike May Drive More Chinese to Bitcoin

Vancouver Real Estate Tax Hike May Drive More Chinese to Bitcoin

A retired hedge fund manager who is also eying the Vancouver housing market, Marc Cohodes , explained to Vice the main reason why the Chinese are so interested in Vancouver real estate is China’s capital outflow restrictions . Chinese citizens can only move up to $50,000 out of China per year as the government is trying to slow down the country’s capital outflows. However, “Investors from China are breaking those rules in order to move massive amounts of money into Vancouver real estate,” he said.

Full article: https://news.bitcoin.com/vancouver-real-estate-tax-china-...

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