Wealthy Chinese buyers are fuelling a real estate boom in B.C., purchasing some of the province’s most exclusive properties, reports the National Post.
The latest mega-purchase in this trend is the $51.8 million dollar Point Grey mansion that formerly belonged to Don Mattrick, CEO of social gaming company Zynga and former head of Xbox at Microsoft.
The home was sold to Mailin Chen, a businessman from mainland China, and his Vancover-based company Chunghwa Investment (Canada) Co. Ltd. A low Canadian dollar is contributing to the current activity in the upper-end real estate market in B.C.