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Chinese Investors Purchased $1.3 Billion of Canadian Commercial Real Estate This Year
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(Posted on Jul 5, 2016 at 05:50PM by Michelle Bogle)
Buyers from China and Hong Kong are now the largest group of foreign investors in the Canadian commercial real estate market.In Q1 and Q2 of this year, they spent $1.3 billion on commercial real estate properties – a drastic increase from last year’s $309 million.
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Chinese investors now hold 65% of the Canadian commercial real estate market. Five years ago, that number was just 4%.Â
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Much of this activity can be seen in major markets, like Toronto and Vancouver. On the local stage, Metro Vancouver had the most active first quarter for commercial real estate sales in the last five years.Â
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One major landmark transaction that occurred in that timeframe is the sale of Vancouver’s Bentall Centre to China's Anbang Group. It represents the largest commercial real estate transaction in the history of Vancouver with a reported sale price of more than $1 billion.
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Chinese investors have taken a keen interest in Canadian commercial real estate because of our safe haven for capital. The low Canadian dollar and European uncertainty due to the Brexit have also helped to attract foreign interest.
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At Marcus & Millichap Vancouver, our team of advisors have a watchful eye on the foreign investment activity in our market. For more information or insight, please contact our office.
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