not2old

On the apartment costs, likely right. That is why I posted a take home pay for a couple of not less than $5k

Apartment, maybe under $2k

https://www.rentboard.ca/rentals/ren...spx?locid=1040

Condo is expensive

https://www.rentboard.ca/rentals/ren...1040&psttyid=3

Apartments & Condos for Sale or Rent in Vancouver | Real Estate | Kijiji Classifieds

scilly

on the news tonight ............

Apartment vacancy rate in downtown Vancouver is less than 0.6%

Apartment managers and owners are beginning to take the "highest bidder" in rent willing to pay .............. ie, apartments are going for above the advertised rate as potential renters compete for the few available. Apartments to rent have become just as competitive as condos to buy.

I live close to one of the neighbourhoods still rated as having "affordable" rents ......... and I know that those rents are generally over $1400 a month for a small 1 bedroom.

Engineer_abroad

Saw this myself. Link to story below
Vancouver Rental Rates Are Too Pricey In All But 2 Areas Now: Vancity Report

Interesting as well that landlords are putting rents up by more than the 2.9% legally allowed as they know its still cheaper than the tenant going elsewhere. Did you also see the story that the liberal governments 'figures' show only 5% of home sales are to non Canadian Citizen's/PRs?

dbd33

That seems likely. If one was looking for a bolt hole one would want to be sure to be able to go there when the time comes. Citizenship is $800,000 which, if you're buying a house for a few million, is likely an acceptable premium.

Nancy in Canada

I was gonna say this. Anything lower isn't a bright idea.

beckiwoo

I thought a citizenship application fee was $800?

dbd33

Yes but that route involves points and a willingness to live in Canada. If you just want the citizenship in case it's useful to move to Canada later then it's $800,000 as an investor.

JonboyE

Permanent resident surely?

beckiwoo

citizenship doesn't involve points. That's express entry PR

dbd33

Here's the source:

https://www.theguardian.com/cities/2...itish-columbia

The embedded link suggests that what's being purchased is a right of residence through the Quebec Investor Program. Note that French speaking applicants are exempted from some of the program's constraints so it's plainly a cash for citizenship, or anyway residence, deal. I suppose that what happens in practice is that the applicant's family actually take up residence which puts them in a position to later sponsor him if his PR has expired. I don't suppose Quebec physically comes in to it any more than the Cayman Islands are physically involved in the corporations registered there.

I know this isn't the only slightly curved route to citizenship but it's the simplest I've heard of.

dbd33

Well yes, but if you're taking the poor person's route you need the points to get the residency to get the citizenship.

beckiwoo

Id rather take the 'poor persons' route and feel liked I've busted my ass to get it and feel proud then just buy my way into a country but that's just me!

Engineer_abroad

the other issue of course is that the principal worry was where the money is coming from not the person. We wanted to answer where and the government and chosen to tell us who. Why, because the buyers may be Canadian PR/Citizen but still making the vast majority/all of their money outside of Canada in countries with much more lax labour, environmental, anti corruption laws. i.e. the money is still hot.

dbd33

Well, firstly, it's not our country so we should let the Canadians do with it as they see fit, we have the same status here as the Chinese immigrants.

Secondly, I don't see that it matters where the money comes from; several posters here still work in the UK, their income isn't "hot" just because it's foreign.

Hey, now that I think of it, my income is only 10% local and no one has complained about me buying a house. I don't think there's anything wrong with the rich buying Vancouver, or Monaco, or wherever, but the rest of us probably don't want to live there.

not2old

or marry a Canadian