China weaponised its economy with the express goal of grabbing as many assets as possible overseas. Canada is just one of the easiest countries to grab assets in (Australia being another). The housing market is nothing but a bubble driven by the key element of a bubble: an unlimited supply of credit chasing a finite supply of houses. 

It will have a crisis at some point. Either the high cost of housing will wreck the Canadian economy and make Canadians poorer, or, the market collapses when governments eventually take measures to stop the flow of easy credit. More likely, the government will have to drop the currency to 'ease' the market bubble.