Foreigners dying to get into Vancouver’s real estate market may want to think outside the box – or should we say inside the box?
Non-Canadians should now be investing in cemetery plots, according to a strange promotion from a Surrey cemetery.
“15 per cent tax not valid on cemetery property,” reads a handout from Victory Memorial Park.
The business’ ad, half written in Chinese, promises luxurious perks like private walled estates with a gated garden for up to eight plots and double-depth lawn crypts.
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“Not uncommon to see burial plots in China out of Beijing going for $112,000 or $150,000 U.S.,” Lindsay Meredith, Simon Fraser University marketing professor, said.
At those prices, burial plots in the Lower Mainland look like a bargain. Plus, it’s an investment that can guarantee growth up to five per cent annually.
For Chinese buyers, it’s also part of cultural tradition.
“Part of a proper Chinese burial says that earth should cover the body,” Meredith said. “Well that kind of leaves out things like cremation as well. So what does that do? It drives up more market value of buying the burial plot.”
The B.C. Funeral Association said advertising is common in their business and this particular ad is a good way to start a conversation when it comes to where people will rest in peace.
No one from Victory Memorial Park returned calls from Global News by deadline.
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