Dateline: June 7

Tonight Dateline looks into China’s millionaire migration to Vancouver, and the reality show it has spawned, Ultra Rich Asian Girls.

More than a hundred and twenty-thousand Chinese millionaire migrants have moved to Vancouver since the mid-1980s, sparking everything from a reality show called ‘Ultra Rich Asian Girls’ to a property boom which has made it one of the world’s most unaffordable housing markets.

It has been reported that up until 2014, the Canadian government had been issuing investor visas to foreigners who could show a net worth of at least $1.6 million dollars, and were also willing to loan the Federal government $800,000.

The migration boom has ignited debate amongst locals, with house prices soaring into the millions, it has some residents, like Professor David Ley (Department of Geography, The University of British Columbia), comparing Vancouver to a handful of cities around the world, including Sydney and Melbourne.

Professor Ley, who has studied immigration and housing market bubbles in Canada, believes that Australia is facing similar issues with its property market; however, stricter visa requirements and foreign ownership controls are softening the blow, noting that in April 2016 Melbourne’s State Government “doubled a tax from 3% to 7% on foreign buyers of property.”

The boom has also sparked a reality show called ‘Ultra Rich Asian Girls’, an online show that documents the lives and shopping habits of some of Vancouver’s wealthiest young residents.

The program has been viewed millions of times, including in Australia. Some of the cast from the hit reality series have even weighed into the debate, with cast member Chelsea remarking:

“I totally understand…but time changes. Chinese brought you great food and better economy, what’s there to complain about?”

Tuesday 7 June at 9.30pm on SBS.